Iskraemeco and Veitur combine their knowledge in a cutting-edge project for a smart and digital future in Iceland
December 1, 2020

Iskraemeco Slovenia, one of the leading smart metering solution providers, and Veitur, the largest utility company in Iceland servicing primarily the south-west part of the country, have signed a contract for a cutting-edge smart metering solution. The solution will facilitate Veitur to transform its electricity, heat and water networks into a smart and sustainable grid that will be prepared for future technologies and challenges.

Iceland is one of the front-runners when it comes to utilizing renewable resources for electricity and heat. Iskraemeco’s solution will enable Veitur to achieve greater efficiency of its operations through digitalization and to develop its services towards a smarter future. The project is a piece of the puzzle in Iceland’s strategy to become carbon neutral by the year 2040. Reykjavik, the capital of Iceland, is already one of the world´s most sustainable cities but seeks to reduce its carbon emissions even further. Iskraemeco’s sustainability results and low CO2 footprint per product were important elements recognized by Veitur. By delivering an integrated solution of electricity, heat and water meters based on NB-IoT and wireless-Mbus communication, Iskraemeco is set to support Iceland’s ambitions regarding sustainability.

Iskraemeco’s energy IoT solution was designed in line with Veitur’s rigorous tender requirements to minimize the total cost of ownership. Its goal is to deliver innovative solutions to enable remote management of metering points and manage services across Veitur’s service area. The modularity of Iskraemeco meters gives Veitur invaluable flexibility in its smart metering deployments and enables a simple exchange of communications modules, which is one of the basic components of smart and future-proof investments. When the solution is deployed, customers will be able to manage their energy consumption better and improve their energy efficiency.

Iskraemeco’s solution consists of a software solution, NB-IoT communication, and electricity meters combined with heat and water meters supplied by Diehl Metering. The NB-IoT communication uses the telecommunication services provided by Vodafone Iceland. The first smart meter solution deliveries are planned early next year and will be followed by a mass rollout in the period from 2022 to 2025.

The signing of the contract clearly demonstrates the future-oriented stance of both companies that have agreed on the following shared objectives:

  1. Commitment to a smart and digital future.
  2. Increased sustainability.
  3. Development of an integrated solution connecting electricity, heat and water meters.
  4. Efficient and smart customer services.
  5. Long-term partnership.

One of the expectations of Veitur was to team up with a long-term partner that would not only be able to deliver a solution but would also set up a platform for future development. Iskraemeco and all involved partners were able to offer Veitur a sustainable solution ready to utilize future smart city, digital grid and e-mobility.

Luis Goncalves, CEO of Iskraemeco:

“We are honoured to have the opportunity to supply our new Energy IoT solution to this remarkable project, especially because the solution is based on sustainability and the principles that we as a company have embedded in our future strategy.
Our goal is to provide our customer Veitur a future-proof, safe, secure, reliable and sustainable solution to support them in mastering their digital transformation journey.
We are excited to build a strong partnership with Veitur and looking forward to creating many success stories in the future.”


Gestur Pétursson, CEO of Veitur:

“We believe Iskraemeco is the perfect partner on Veitur’s journey towards a digital and smart future. Iskraemeco’s solution scored high in our tender process and Iskraemeco has demonstrated a convincing roadmap on its capability to develop the solution even further.

We are looking forward to this journey.”

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