Queensland Investment Corporation (QIC) has completed the acquisition of a 50% equity interest in New Zealand-based Vector's metering business.

The sale represents a significant milestone for Vector, a company leading New Zealand's energy transition, and brings new opportunities to Vector Metering, which benefits from cutting-edge data technology. Smart meters, connecting to data networks, play a crucial role in the energy transition. Vector Metering utilizes Diverge, an industry-leading data and analytics platform jointly developed by Vector Technology Solutions and Amazon Web Services (AWS) through a strategic alliance. The platform securely processes data from smart meters in residential and commercial properties, empowering energy retailers to enhance billing processes and create innovative products and services that support decarbonization and cleaner energy options. This contributes to the faster adoption of renewable energy, improved grid management, and empowers consumers with greater awareness and choice over their energy usage.