Tier 1 US utility selects IQGeo

IQGeo Group PLC

06 December 2023

 

Reach

IQGeo Group plc

(the "Company" or the "Group")

Tier 1 US utility selects IQGeo software to mobilise build-to-operate workflows

IQGeo (AIM: IQG), a developer of geospatial software that is "Building better networks" for telecom and utility operators, is pleased to announce that a major tier 1 multi-service utility in the US selected the IQGeo software to mobilise field workflows across its electric and gas operations. The utility provides transmission and distribution services to over 5 million customers across eight states and will be using IQGeo software licenses to support field crews managing its electric grid and gas network. The total value of the project is approx. $3.0 million encompassing software licenses with ongoing maintenance and support, and professional services over a 5-year period.

The new contract was awarded in a highly competitive bid process and IQGeo was chosen for its industry leading mobility and work execution software, and the ability to access and integrate the utility's multiple GIS and operational data systems. The IQGeo mobile geospatial software will support complex workflows across gas and electric operations for mobile use cases that include inspection and survey, as-built validation, and network fault tracing. The mobile solution provides a single integrated environment that reduces operating costs, improves network data quality, streamlines compliance reporting, and enhances grid safety.

Richard Petti, CEO, commented that "This project win perfectly illustrates the flexibility of our software architecture and the potential of the utility industry for our business. Electric grid and gas network field operations are complex and multi-disciplined, and our software is dramatically improving process efficiency across network construction and operations. We are at the beginning of a major investment phase for the utility industry as it redesigns its networks to meet net zero carbon objectives. I expect this investment to parallel the growth cycle we saw in the telecom industry in previous years with a strong trajectory for the next decade, and IQGeo is well positioned to benefit from this large capex cycle."

For further information contact:

IQGeo Group plc                                                                                    [phone]

Richard Petti

Haywood Chapman

Cavendish Capital Markets Limited                                                      [phone]

Henrik Persson, Seamus Fricker (Corporate Finance)

Tim Redfern, Charlotte Sutcliffe (ECM)

This is an RNS Reach announcement and the information contained is not considered to have a significant impact on management's expectations of the Group's performance. RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.

Notes to Editors

About IQGeo

Telecommunication, fiber, and utility operators are "Building better networks" with IQGeo's award-winning network management software. The ability to powerfully model any network requirement, integrate every system and data source, and support field and office teams with continual innovation is helping operators create the networks of the future. Our solutions ensure greater cross-team collaboration and process efficiency throughout the network lifecycle, from planning and design to construction, operations, and sales.

Whether it's highly competitive fiber and 5G broadband rollouts or complex utility grid modernization projects, customers trust IQGeo's Integrated Network and Adaptive Grid solutions. We partner with large multinationals and smaller regional operators to deliver the digital innovation they need to accelerate time-to-revenue, increase network resilience, improve operational safety, and deliver ROI.

For more information visit: www.iqgeo.com/

Copyright © 2023, IQGeo UK Limited. IQGeo is a registered ® trademark

 

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