The first quarter of 2011 has seen smart meter supplier Bglobal win two new contracts and secure an agreement with Samsung, enabling the AIM-quoted firm to enter the residential market.
At the end of February Bglobal won a deal to install and service its latest generation of smart electricity meters to Opus Energy customers in the UK.
A few weeks later the firm secured a contract to supply its smart meters to funeral firm Dignity’s sites throughout the UK.
Earlier, Bglobal announced that it would set up a joint venture with Samsung that will see the two companies install meters on a fully-funded rental model. The JV will also look to enter the home automation and energy management markets. Bglobal will install and maintain the meters on behalf of the JV, while Samsung will supply the meters.
In the UK, there are 27 million residential and around two million commercial and industrial meters which need to be upgraded to smart meters.
Market: AIM
Symbol: BGBL
Price: 37.5p
12-month high/low: 50.25p/31.5p
Market cap: £37.4m
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