Oakter, a provider of innovative consumer electronics, has announced the launch of OAKMETER, a state-of-the-art Smart Energy Meter designed to revolutionize energy consumption management. Oakter has set up a manufacturing facility to produce 10 lakh of these meters per month.
Oakter’s Smart Meter employs advanced technologies such as Advanced Metering Infrastructure, real-time data analytics, and Internet of Things (IoT) capabilities. This enables two-way communication with the utility’s server via internet connectivity, facilitating seamless detection of tampering, real-time data transmission at intervals as frequent as every 15 or 30 minutes, outage identification and visibility of energy consumption on mobile devices. The company claims these features result in reduced manual intervention, increased operational efficiency, minimized error, and substantial cost savings for both consumers and utilities.
“Sustainable energy is a primary need for our planet in current times,” said Oakter CEO Shishir Gupta. “While India’s current capacity to produce more electricity than total demand is a positive development, coupled with the increasing deployment of renewable energy, there is still progress to be made. The big issue right now is losses in distribution, which can be attributed to power thefts, corruption, and inefficient infrastructure. Smart Meters are the solutions to this problem by providing real-time visibility of distribution and consumption across the country. Hence the Indian government has launched the Revamped Distribution Sector Scheme (RDSS) to replace all energy meters with smart energy meters. Oakter’s competence in development and manufacturing of smart IoT devices is perfectly suited to manufacture high-quality smart energy meters in large quantities,” he added.
The smart meter, OAKMETER, is a business-to-business (B2B) product supplied directly to power utility companies. The typical contract for Smart Meters includes installation, support, and finance based on the DBFOOT (Design-Build Finance-Own-Operate-Transfer) Model, with contracts awarded at Rs. 8000-10,000 per meter.
Oakter is a company specializing in contract manufacturing and smart home devices. They offer a wide range of services, including defining hardware specifications, prototyping, cloud software development, mobile app creation, certifications, scalable manufacturing, and field deployment. They aim to save time and costs for businesses by handling the manufacturing process efficiently. Oakter also values collaborative brand value, offering a long-term partnership that enhances a business’s reputation. The company has a strong track record, having partnered with technology giants like Sony and Schneider, and with Paytm to manufacture its soundboxes. Oakter is a beneficiary of the Indian govt’s PLI scheme and has a manufacturing facility in Noida.