Benzinga | Aug 9, 2021 01:13PM EDT

Ameresco Partners With City Of Bellmead For Smart Metering Infrastructure Improvement Project

* Ameresco Inc (NYSE:AMRC) inks partnership with the City of Bellmead, Texas, for a comprehensive smart metering infrastructure improvement project. The financial terms of the contract were not disclosed.

* Ameresco has included the project in its previously reported contracted backlog as of June 30, 2021.

* The project includes the installation of solid-state water meters and an advanced metering infrastructure (AMI) system. It will replace 3,797 water meters throughout the city and recommissioning recently installed meters.

* The automation of Bellmead's billing system will improve meter accessibility issues and reduce billing errors.

* Ameresco expects to complete the construction in early 2022.

* Price Action: AMRC shares traded higher by 4.06% at $67.21 on the last check Monday.