A DARWEN company is set to benefit after the Government announced plans to install high-tech energy readers in millions of homes.

Commercial Road-based Bglobal is one of the world’s leading manufacturers of ‘smart meters’, the cutting edge devices which allow power companies to take readings remotely.

Yesterday, ministers said they wanted energy firms to install 47million readers in 26million homes by 2020, at a cost of up to £9billion.

Bglobal’s foothold in the market, which includes contracts with the likes of Vodafone, Boots and Superdrug, means it is almost certain to cash in on Britain’s surge to go smart.

Chief executive Tony Barnes told the Lancashire Telegraph that the company already had plans to increase its 125-strong workforce during 2010. Energy and Climate Change Minister Lord Hunt said: “Smart meters will put the power in people’s hands, enabling us all to control how much energy we use, cut emissions and cut bills.”

The announcement comes after Bglobal, which was founded in 2004, revealed that it had reduced losses in the past year, installing an average of 4,000 smart meters a month. The firm raked in £5.8million in the six months to the end of September but lost £670,000, £1.3million less than its deficit during the same period last year.

And bosses are confident that after a number of big contracts in 2009 during the worldwide recession, Bglobal can continue growing Mr Barnes said: “The group has emerged leaner and stronger after the difficulties of the past 12 months and has now installed almost 75,000 smart meters in the UK non-half hourly business metering market, confirming our position as the market leader in this important segment.

“We are confident that the group is in a strong position to capitalise on the opportunity ahead.”