Cambridge, 16 December 2021 - IQGeo (AIM: IQG), a developer of geospatial productivity and collaboration software for the telecoms and utility industries, is pleased to announce that its software was selected by a major investor-owned electrical utility provider in the United States. The new contract is worth more than US $2.0 million over 3 years for software, maintenance, and support, providing the customer with access to certain modules within IQGeo's geospatial software suite.
This expansion project will use a range of IQGeo technology for field design, disaster response, and mobile inspection and survey applications. The contract also includes the first deployment of IQGeo's new Network Manager Electric software that delivers comprehensive network planning and design capabilities. Network Manager Electric creates a powerful digital network twin that will play a strategic role in the company's ambitious grid modernization and decarbonization plans.
With distributed energy generation and the global push for decarbonization, electrical network operators are embarking on once-in-a-generation grid modernization initiatives. These initiatives are supported by massive public and private sector investments to help realise the imperative of smart, green, resilient networks. As one of the most innovative electrical network operators in the US, this customer is leading the industry in tackling the challenge of creating a zero-carbon network and the IQGeo software will support this effort by improving network intelligence and operational efficiency across their entire operational lifecycle.
IQGeo recognized that complex, centralised legacy GIS software cannot support the speed, collaboration, and real-time data needed to create and maintain the networks of the future. In response, the IQGeo Network Manager Electric software has been designed with agility and flexibility at its core to support the demands of a new net zero electrical network architecture. Network Manager Electric will help this customer and other operators dramatically accelerate their planning and design processes and give them the agility and visibility to manage rapidly changing network requirements.
Richard Petti, CEO, commented that "We are excited about the opportunity to partner with such a forward-thinking operator and contribute to the important shift to zero-carbon electrical networks. As an industry change-maker, this network operator has a clear imperative shared with IQGeo to accelerate all aspects of their operations to plan, construct and maintain smart networks. We are confident that our software and team of experts will give them the foundation needed to be successful with their network modernization and net zero objectives."