Smart Metering Systems PLC's (LON:SMS) chief executive Alan Foy says it has £76mln indexed linked annualised recurring revenues on the books with at least an additional £40mln in waiting when it converts its minimum secured order book of 2mln to smart meters. Foy explains that the company gets revenue whichever energy company is supplying the energy and is now back up and running again after the coronavirus lockdown. Going forward, SMS is well-placed to provide services for the government’s 2050 zero carbon target, adds Foy. SMS can provide end-to-end services from batteries to store renewable-generated power through to meters in people’s home to act as a balancer for the grid in peak times. The UK government says it needs £1trn of investment to decarbonise the UK and SMS wants to be at the forefront, Foy says.
Smart Metering Systems boss expects to be at the forefront of UK's zero carbon drive
Quick facts: Smart Metering Systems PLC
Price: 643 GBX
Market Cap: £725.61 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE