Itron Inc Partners with VODA.ai to Revolutionize Pipe Asset Management Solution

Itron Inc Partners with VODA.ai to Revolutionize Water Pipe Asset Management

In a groundbreaking move, Itron Inc (ITRI) has announced a partnership with VODA.ai to introduce Pipe Asset Management, a cutting-edge solution designed to identify and predict critical pipe assets that require replacement, rehabilitation, or contain lead. This initiative is set to transform the way utilities operate, saving costs and enhancing efficiency in the management of water distribution networks.

The collaboration comes in response to alarming statistics highlighted by Utah State University, revealing that as much as 20% of water pipes in the United States and Canada, totaling 452,000 miles, are already past their useful lifespans and urgently need restoration.

Pipe Asset Management utilizes a proactive approach by sorting through public data, including factors like soil conditions, terrain features, and infrastructure characteristics, in combination with data collected by Itron’s water solutions. This data is then fed into VODA.ai’s AI engine to identify pipes in need of replacement or rehabilitation.

The state-of-the-art software is available globally as a standalone product or as part of a comprehensive package. Itron, based in Liberty Lake, WA, is a technology and services company that provides energy, water, smart city, IIoT, and intelligent infrastructure solutions to utilities and cities for resource management.

ITRI’s recent financial performance has been impressive, with a 22% year-over-year increase in revenue in the last reported quarter. The company attributes this growth to strong operational execution and increased demand across all business segments. With a Zacks Rank #3 (Hold), ITRI has seen a 48.7% stock price increase over the past year.

Other companies to watch in the industry include Arista Networks, Inc. (ANET), Motorola Solutions, Inc. (MSI), and NVIDIA Corporation (NVDA), all of which have favorable rankings and strong growth potential.

The partnership between Itron Inc and VODA.ai marks a significant step forward in the management of water distribution networks, offering a solution to the pressing issue of aging infrastructure. This innovative approach is set to revolutionize the industry and pave the way for more efficient and cost-effective operations in the future.