SMS Smart Metering Systems Plc

LONDON--Smart Metering Systems PLC (SMS.LN), a maker of energy efficient gas meters, said Wednesday that it has signed a contract with Total Gas & Power Ltd, a U.K. subsidiary of the gas group Total SA, to provide gas meters and an advanced automated meter reading solution, for its industrial and commercial, or I & C, customers.

MAIN FACTS:

-The contract with is for 15,000 I & C meters over 3 years.

-Longer term average run rates are being established; however, initial run rates suggest that the equivalent number of domestic meters would be approximately GBP250,000 in value.

-Shares closed Tuesday at 143.5 pence valuing the company at GBP120 million.

-Write to Rory Gallivan at rory.gallivan@dowjones.com