Cameron O’Reilly, CEO of Landis+Gyr, said: “Our existing shareholders’ active support of the company is a tribute to the global potential of smart metering and Landis+Gyr’s unique position to capitalize on that opportunity.

“Despite the global financial crisis, Landis+Gyr continues to grow and our shareholders continue to invest in that growth. The substantial growth we are currently experiencing in our US business is compensating for the challenging trading environment in Europe, and allowing the company to have orders, sales and profits that are exceeding expectations.”

Landis+Gyr has won more than $1 billion of new orders this year. The company spends approximately $90m per year on research and development to ensure that it has the broadest technology portfolio in the industry, said Landis+Gyr.

The company has recently released its latest generation in-home display, targeting the market for in-home energy monitoring and management.

In further steps towards smart grid development, the company has also formed partnerships with SAP, Cisco, and Microsoft to accelerate the delivery of solutions for the energy industry and facilitate the integration of existing capabilities with renewable power sources, home automation, plug-in hybrid electrical vehicles and distribution automation functionality.