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HEDNO Advances Grid Modernization with Itron Intelligent Edge Solution in Greece

1. Itron signed a contract with HEDNO for grid intelligence in Greece. 2. HEDNO will manage 7.7 million meters using Itron's MDM system. 3. Itron’s solution aims for enhanced customer experience and grid modernization. 4. Collaboration with Microsoft to integrate AI technologies for future readiness. 5. Project supports HEDNO's goal of net-zero emissions by 2050.

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Why Bullish?

This contract positions Itron in a strategic market, with potential for revenue growth similar to past infrastructure contracts that yield long-term benefits.

How important is it?

The contract with HEDNO is significant for Itron's growth strategy, particularly in the European market.

Why Long Term?

Grid modernization projects typically require significant time for full deployment, thus impacting Itron positively over several years.

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LIBERTY LAKE, Wash., June 24, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, signed a contract on May 28, 2025 with Hellenic Electricity Distribution Network Operator S.A. (HEDNO), the sole electricity Distribution System Operator in Greece and one of the largest in Europe, to lay the foundation for grid edge intelligence. Itron’s Grid Edge Intelligence portfolio will enable HEDNO to improve its customers’ experience with enhanced energy consumption insights and modernize its electric grid to advance its long-term goals, which include integrating more distributed energy resources and achieving net-zero emissions by 2050. HEDNO will deploy Itron’s Enterprise Edition (IEE) Meter Data Management (MDM) system, which will manage 7.7 million meters, and Itron’s Utility IQ headend system to manage nearly 1 million new intelligent narrowband-IoT (NB-IoT) cellular smart meters designed and manufactured by Itron technology partner ZIV Automation, a provider of advanced digital solutions for power grids. These solutions will enable HEDNO to improve operational efficiency while enhancing customer service through increased visibility into energy consumption, faster resolution of issues and flexible billing options. Once deployed, HEDNO will gain immediate access to entire meter datasets, enabling more accurate detection and measurement of technical and non-technical losses, improved revenue collection, powerful asset management, secure data sharing and predictive maintenance capabilities. Itron’s IEE MDM system will connect with HEDNO’s multiple headend and customer information systems, allowing the utility to collect, process, store and analyze smart device data, device events and alarms. As a hosted software-as-a-service (SaaS) solution, Itron’s system ensures reliable availability, allowing HEDNO to focus on business operations while realizing operational and cost-saving benefits more quickly. The future-proof solution will enable HEDNO to easily adopt new grid edge use cases over time. IEE MDM is pre-integrated with Itron’s Intelligent Edge Operating System (IEOS), a platform-as-a-service that simplifies integration and establishes a strong foundation for advanced grid capabilities like distributed intelligence, energy forecasting, distributed energy resource management, advanced analytics and more. HEDNO, already utilizing the Azure cloud, can also benefit from Itron’s strategic collaboration with Microsoft to integrate generative AI technologies – starting with Microsoft Azure OpenAI, part of Azure AI Foundry – into Itron’s IEOS, further future proofing Itron’s solution. “Smart Metering is the most important project for the modernisation of the Greek electricity market. For the scope of this project, Itron has been assigned the supply of the Meter Data Management System, which will serve as the central system for the collection, storage, processing and advanced analysis of data from all meters. This system, the most widely used globally for meter data management, will enable us to offer significantly enhanced digital service capabilities to electricity suppliers, consumers and prosumers. At HEDNO, we remain committed to our promise of modernizing the Greek electricity energy market,” said Anastasios Manos, HEDNO CEO. “Itron is proud to be a part of this project to enable a modernized electric grid in Greece with our proven MDM and headend systems, which each manage more than 50 million endpoints globally. Together with HEDNO and ZIV, we’re creating a scalable foundation to meet HEDNO’s evolving operational needs,” said Don Reeves, senior vice president of Outcomes at Itron. “With Itron’s pre-integrated solution and deep industry expertise, we’ll help reduce project complexity, accelerate deployment and lower total cost of ownership. We’re excited to support HEDNO in realizing the benefits of a smart, reliable and future-ready grid.” About Itron Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: www.itron.com. Itron® and the Itron Logo are registered trademarks of Itron, Inc in the United States and[/or] other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated. For additional information, contact: Itron, Inc. Alison MallahanSenior Manager, Corporate Communications509-891-3802PR@Itron.com Paul VincentVice President, Investor Relations512-560-1172Investors@itron.com Itron, Inc. LinkedIn: www.linkedin.com/company/itronincX: www.x.com/itronincNewsroom: https://itron.com/newsroomBlog: https://itron.com/blog

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