Smart Metering Systems
- Sector: Energy
- Region: Scotland
Since its initial public offering (IPO) on AIM in 2011, Smart Metering Systems (SMS) has grown from 40 employees to 1,270. In that same period, its long-term indexed-linked revenues have achieved a 40% compound annual growth rate. An independent, fully integrated end-to-end installer and manager of future smart energy assets, its offering includes smart meters, grid-scale battery storage electrical vehicle chargers and solar assets.
Paving the way to the future, SMS has been involved in several high-profile projects, including electricity design and optimisation for London’s Olympic Park, National Rail and Hinkley Point C nuclear power station.
Its smart meter rollout is one of the first steps to decarbonising the UK, according to Alan Foy, CEO of SMS. “Without smart meters, we can’t decarbonise. We are leading the smart energy revolution and are truly at the heart of delivering the UK Government’s net-zero carbon ambition,” says Alan. SMS also holds London Stock Exchange’s Green Economy Mark, which recognises public companies and funds that derive 50% or more of their revenues from environmental products and solutions.
SMS’s IPO on AIM has also maximised its opportunities in the industrial and commercial metering space. “Between 2014 and 2016, we acquired four companies, including electricity specialist UPL, two UK-wide engineering companies and a cloud-based technology company. All these positioned us for domestic smart metering opportunities,” says Alan.
In 2019, SMS acquired the Solo Energy platform, which provides a blockchain-based renewable assets aggregation platform. “We also signed a funding partnership with Columbia Threadneedle European Sustainable Infrastructure Fund to unlock the funding requirement and maximise opportunities in the carbon reduction assets space.”
Alan says AIM has also helped increase SMS’s market capitalisation almost 10-fold. “AIM has provided SMS with the right exposure to such an investor base,” he concludes.