Schneider Electric and Awesense Inc. to develop joint offers to reduce losses on distribution networks
Schneider Electric and Awesense Inc. have signed an agreement to commercialize complementary offers to reduce network losses in electricity distribution grids.
MISSISSAUGA, Ont. – November 4, 2014 — Under the terms of this agreement, Schneider Electric and Awesense Inc. will combine their expertise to design and propose integrated solutions which will enable utilities to reduce ongoing grid losses and recover lost revenue, helping them achieve more reliable and profitable distribution grids.
Awesense Inc. develops products and software for increased grid efficiency by identifying losses, reducing risk of overloads, leveraging data from assets and reducing revenue recovery time from metering errors or electricity theft. As the world specialist in energy management, Schneider Electric develops, manufactures and sells electrical distribution, critical power supply and control equipment as well as network automation and grid management software, enabling its utility customers to operate reliable, secure and efficient networks.
This agreement will enable Schneider Electric to integrate and sell Awesense’s True Grid Intelligence (TGI) cloud software and line sensors, as well as associated engineering and technical services. This solution identifies losses on all grid topologies with overhead or underground conductors. Awesense Inc. will benefit from Schneider Electric’s commercial footprint with utility partners across the globe and specialized teams who are actively engaged in improving network efficiency.
Frédéric Abbal, EVP of Schneider Electric’s Energy Business
“This agreement will create a complete loss reduction solution by bringing together our complementary offers and enabling utilities worldwide to increase grid efficiency by analyzing data from smart meters against data from suspicious network assets through losses audits.”
Mischa Steiner-Jovic, CEO of Awesense Inc.
“We are very excited to partner with Schneider Electric in tackling the problem of unidentified losses. Utilities lose over $200B each year to distribution losses, which has an enormous impact on the environment and the economic performance of power companies everywhere.”
About Awesense Inc.
Awesense offers advanced Software as a Service grid analytics tools that provide true insight into the distribution grid, with special emphasis on finding nontechnical losses: power theft and metering errors that cost US power companies over $6B annually, and globally exceeds $100B per year. Awesense customers have saved hundreds of millions of dollars in grid losses using the TGI system. Find out more at http://www.awesense.com
About Schneider Electric As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in Utilities & Infrastructure, Industries & Machines Manufacturers, Non-residential Building, Data Centres & Networks and in Residential. Focussed on making energy safe, reliable, efficient, productive and green, the company’s 140,000 plus employees achieved sales of CAD $33.4 billion dollars (24 billion Euros) in 2013, through an active commitment to help individuals and organizations make the most of their energy. www.schneider-electric.com/ca