05.11.2014 | Austria

S&T AG’s subsidiary NES to partner with Mitsubishi Electric in the global smart energy market

Mitsubishi Electric targets European markets with S&T smart energy technology

S&T AG has announced a cooperation with one of the Japanese leading meter manufacturers, Mitsubishi Electric. Mitsubishi Electric will introduce new smart meter during the upcoming European Utility Week 2014, one of the world’s most renowned smart energy-related trade fairs. The meter will be compatible with the Open Smart Grid Protocol, that is proven to provide outstanding availability and extensive functionality across 4 million meters deployed globally promoted by OSGP alliance members such as S&T, NES and Mitsubishi Electric. The benefit of using the Open Smart Grid Protocol is that it allows manufacturers to quickly and effectively launch interoperable smart grid devices including smart meters, load-control modules, power-quality sensors, electric-vehicle chargers and other valuable devices utilities needed to modernize their electrical grids

Already a leading supplier in Japan, including one of the preferred suppliers for all power utilities in Japan, Mitsubishi Electric is now targeting European markets that, due to requirements and mandates of the European Union, are expected to offer a market potential of up to 200 million meters worth 40 billion Euros until 2019.

S&T AG has just recently secured the largest order in the company’s history supplying OSGP-based smart meters and associated technologies including management software requisite to operate smart grid components for a total of 330.000 customers in Poland. Taking this project into account, S&T is planning to attain sales of EUR 465 million in 2015. This would represent a rise of 24% over the EUR 375 million forecast for 2014. S&T will also carry Mitsubishi electric meters in its product portfolio in the future.

S&T AG (www.snt.at, ISIN AT0000A0E9W5, WKN A0X9EJ, SANT) is listed on the Prime Standard segment of the Frankfurt Stock Exchange. The company has some 2,100 employees. It operates in 20 countries. S&T is one of the three largest suppliers of IT systems in Austria and in Eastern Europe. S&T's prime assets include the breadth of the products – many proprietorially developed - comprising its portfolio. These products are used in the smart energy, cloud, security and mobile IT sectors. The portfolio is distributed throughout Central and Eastern Europe. S&T launched its “smart energy” business area in 2014. This area now comprises a 40% stake in the Networked Energy Services Corp. (NES) (www.networkedenergy.com), and holdings in the Austria-based Ubitronix GmbH (www.ubitronix.at) and the Group subsidiary RTSoft (www.rtsoft.ru/en). These companies provide S&T with an unsurpassed portfolio of smart energy technologies. This portfolio enables S&T to offer comprehensive, end-to-end solutions in this area.