Cambridge, 6 December 2023 - IQGeo (AIM: IQG), a developer of geospatial software that is “Building better networks” for telecom and utility operators, is pleased to announce that a major tier 1 multi-service utility in the US selected the IQGeo software to mobilize field workflows across its electric and gas operations.
The utility provides transmission and distribution services to over 5 million customers across eight states and will be using IQGeo software licenses to support field crews managing its electric grid and gas network. The total value of the project is approx. $3.0 million encompassing software licenses with ongoing maintenance and support, and professional services over a 5-year period.
The new contract was awarded in a highly competitive bid process and IQGeo was chosen for its industry leading mobility and work execution software, and the ability to access and integrate the utility’s multiple GIS and operational data systems. The IQGeo mobile geospatial software will support complex workflows across gas and electric operations for mobile use cases that include inspection and survey, as-built validation, and network fault tracing. The mobile solution provides a single integrated environment that reduces operating costs, improves network data quality, streamlines compliance reporting, and enhances grid safety.
Richard Petti, CEO, commented that “This project win perfectly illustrates the flexibility of our software architecture and the potential of the utility industry for our business. Electric grid and gas network field operations are complex and multi-disciplined, and our software is dramatically improving process efficiency across network construction and operations. We are at the beginning of a major investment phase for the utility industry as it redesigns its networks to meet net zero carbon objectives. I expect this investment to parallel the growth cycle we saw in the telecom industry in previous years with a strong trajectory for the next decade, and IQGeo is well positioned to benefit from this large capex cycle.”