Almonte, ON, Canada and Rueil-Malmaison, France — (METERING.COM) — June 20, 2008 – Triacta Power Technologies Inc. has signed a distribution and OEM agreement with Schneider Electric, whereby Schneider Electric will distribute Triacta’s current product line of smart metering hardware and web-based software under the Schneider Electric™ and Square D™ brands. Schneider Electric will also embed Triacta meters into their electrical panel product lines. Schneider Electric is one of the world’s largest suppliers of electrical panels, with a market presence in over 190 countries.
Incorporating Triacta’s technology into electrical panels enables Schneider Electric to offer sub-metering services in multi-tenant buildings such as office towers, condominiums, apartment buildings and shopping centers. Customers will be able to view their energy consumption and billing information online via a secure website, receive automated reports via email and import tenant billing information directly into their finance systems.
Market interest in Triacta’s smart meters is high; Schneider Electric has already sold Triacta products to a 300+ unit high rise building in New York City, prior to the official deal announcement.
“This is a milestone for Triacta,” said President and CEO Rob Brennan. “Teaming up with Schneider Electric will boost sales and the deal gives us an important reference customer going forward.”
Scott Henneberry, Director of Strategic Marketing for Schneider Electric’s Power Monitoring and Control group, said: “We’re excited to add Triacta’s smart metering products to our broader intelligent metering offer. Triacta’s competencies in metering, data networking and web-based network management separate them from the pack. This partnership will give our sales teams a compelling competitive advantage in the sub-metering marketplace.”
Both companies see huge market growth in smart metering, brought about by green building legislation, LEED accreditation, interest in energy efficiency and the rapid adoption of clean technologies.