Schneider Electric and Awesense Inc. have signed an agreement to commercialize complementary offers to reduce network losses in electricity distribution grids.
Under the terms of this agreement, both groups will combine their expertise in order to design and propose integrated solutions enabling 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 & technical services. The 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 commented “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.”
According to 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.”
