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IQGeo software selected by Japan electric utility
9th Sep 2021 12:26
(Sharecast News) - Telecoms and utility geospatial software company IQGeo announced on Thursday that its software had been selected by a global top 10 electrical utility provider in Japan.
The AIM-traded firm said the new contract was for more than 4,000 licences with an annual recurring subscription value of more than £0.5m.
It said the unnamed customer would be deploying its geospatial software as part of a strategic project to monitor and respond to severe weather events that could have a "major impact" on electrical service for commercial and residential customers.
IQGeo said its network asset management software would be used in both the customer's storm operations centre and by field crews assessing extreme conditions, capturing real-time network status, and restoring service.
The software would provide all operational teams with an accurate and timely view of network realities so they could efficiently anticipate and manage disaster response activities.
"IQGeo is very pleased to be working with our new customer to help it maintain critical national electric infrastructure during Japan's notorious typhoon season," said chief executive officer Richard Petti.
"The IQGeo team, together with our local integration partner NESIC, has extensive experience with disaster assessment and response activities as we are already working with other major Japanese electrical utility operators to support their severe incident response strategy.
"Over the last year our Japanese customer base in the telecommunication and utility markets has achieved strong growth with new organisations and has also expanded within existing accounts."
At 1509 BST, shares in IQGeo Group were up 1.14% at 124.4p.
The AIM-traded firm said the new contract was for more than 4,000 licences with an annual recurring subscription value of more than £0.5m.
It said the unnamed customer would be deploying its geospatial software as part of a strategic project to monitor and respond to severe weather events that could have a "major impact" on electrical service for commercial and residential customers.
IQGeo said its network asset management software would be used in both the customer's storm operations centre and by field crews assessing extreme conditions, capturing real-time network status, and restoring service.
The software would provide all operational teams with an accurate and timely view of network realities so they could efficiently anticipate and manage disaster response activities.
"IQGeo is very pleased to be working with our new customer to help it maintain critical national electric infrastructure during Japan's notorious typhoon season," said chief executive officer Richard Petti.
"The IQGeo team, together with our local integration partner NESIC, has extensive experience with disaster assessment and response activities as we are already working with other major Japanese electrical utility operators to support their severe incident response strategy.
"Over the last year our Japanese customer base in the telecommunication and utility markets has achieved strong growth with new organisations and has also expanded within existing accounts."
At 1509 BST, shares in IQGeo Group were up 1.14% at 124.4p.