TORONTO, April 7, 2015 (GLOBE NEWSWIRE) -- GRID2020®, Inc., a leading Distribution Transformer Monitoring (DTM) intra-grid sensor provider formally announced its release of OptaNODE™ HESS, an organically developed, multi-purpose software platform.
GRID2020 invested nearly two years to create a proprietary software solution that will ultimately drive its patented intra-grid sensor solution toward a services centric focus. Sponsored by the Ministry of Energy and funded in part through the Ontario Smart Grid Fund initiative, the company has closed in on its long-term vision to meaningfully contribute toward the 'big data' services interest of electric utilities and global marketplace providers.
Joe Beaudet, CIO of GRID2020 commented, "Our team is exceptionally proud of the robust, multi-purpose OptaNODE™ HESS platform. Using this versatile offering, utilities will enjoy access to a perpetually growing list of data points from within the heart of their grid. They will also have the ability to transition our OptaNODE™ DTM intra-grid sensor data into existing SCADA and MDM platforms, or capitalize on the wide array of OptaNODE HESS features we continue to develop."
GRID2020 entered the smart grid revolution in late 2011, then mastered a patented intra-grid sensor platform. Following years of effort to evolve its comprehensive suite of industry leading sensors, the company quietly focused on fulfilling its long term intention to provide valuable grid management and supervision services to utilities worldwide.
Alan Snook, President of GRID2020 stated, "Our team started with the end in mind since day one. To become successful, we knew that we had to create best in class intra-grid sensors first, then build a powerful software platform founded in critical data presentation and related analytics. Now, our final step is to become a versatile service-based provider that will drive quantifiable value for utilities, and establish recurring revenue streams for the company."
Funded in part by the Ontario Smart Grid Fund and the support of private investors, GRID2020 has worked its way through the challenges of a startup initiative to become an emerging, recognized participant in the smart grid sector. The company feels confident that it is now postured to fulfill its dream of finalizing progression through the three step process of "sensors-analytics-services".
Given tremendous feedback from a host of global utilities, including several marquee providers, GRID2020 has diligently advanced its OptaNODE™ devices and software evolution in pursuit of a services centric market offering.
Snook further stated, "While it would be wonderful if algorithms and endpoint meters were all that was needed for smart grid realization, the fact is that is not the case. Given the exceptionally dynamic, volatile grid network that spans between substations and endpoint meters, and the necessity for precise, timely information, our intra-grid sensors directly address the vital need for effective grid edge intelligence. But, while the sensors are a key element, the real value of GRID2020 will emerge from the expanding list of pertinent asset supervision, and revenue assurance services driven by our sensors."
The company will now progress toward offering services to identify unmetered losses, improve power conservation practices, identify de-stabilizing reverse energy entering the grid from distributed generation sources, accelerate outage notification/power restoration, and will provide asset monitoring alerts. GRID2020 will ultimately help utilities to lower their operating costs, embrace distributed generation and conservation efforts, extend equipment longevity, reduce power outages, lessen utility truck rolls, improve utility performance indices, and strengthen grid reliability.
For more information about GRID2020 visit www.grid2020.com.