Smart Metering Systems plc (AIM: "SMS", the "Group"), a fully integrated energy infrastructure company owning and managing meter assets, energy data, grid-scale batteries and other carbon reduction ("CaRe") assets is pleased to announce that it has extended the exclusivity agreement with Shell Energy Retail Limited ("Shell") for the installation and funding of smart meters until December 2025.
Alan Foy, CEO, SMS commented:
"The extension of the exclusivity agreement is a testament to the strength of our long-term relationship with Shell, underpinned by our well established end-to-end integrated model."
Tony Keeling, CEO, Shell Energy Retail Limited commented:
"Shell has significantly grown its market share in the UK retail energy supply in recent months. The extension of our partnership with SMS is key to us safely continuing to deliver the smart meter roll-out programme - a critical enabler to digitalise and decarbonise the UK energy system."
For further information, please contact:
Smart Metering Systems plc
0141 249 3850
Alan Foy, Chief Executive Officer
Dilip Kejriwal, Investor Relations
Cenkos Securities plc (Joint Broker and Nomad)
0131 220 6939 / 020 7397 8900
Neil McDonald / Pete Lynch
Investec Bank plc (Joint Broker)
020 7597 5970
Christopher Baird / Henry Reast
RBC Capital Markets (Joint Broker)
Matthew Coakes / Evgeni Jordanov / Jack Wood
020 7653 4000
Tim Linacre / Guy Scarborough / Sarah Hourahane
+44 07917 178 920
Notes to Editors
Smart Metering Systems plc (www.sms-plc.com) is the fully integrated energy infrastructure company owning and managing meter assets, energy data, grid-scale batteries and other carbon reduction (CaRe) assets. The Group manages and optimises these assets through its in-house technology and data analytical platform "METIS".
Established in 1995, SMS provides a full end-to-end service, from funding and installation to management and maintenance, with a highly skilled workforce, deep engineering expertise and well-established industrial partnerships.
SMS is leading the low carbon, smart energy revolution in the UK and is committed to reducing its own carbon emissions to net zero by 2030. SMS has been recognised with the London Stock Exchange's Green Economy Mark every year since it was introduced in 2019.
SMS plc is headquartered in Glasgow with a national presence across twelve UK locations.
SMS's shares are listed on AIM.