TORONTO, Sept. 23, 2014 (GLOBE NEWSWIRE) -- GRID2020, Inc., a leading Distribution Transformer Monitoring (DTM) intra-grid sensor provider, formally announced its receipt of a grant agreement totaling nearly $1.7 million dollars via the Ontario Ministry of Energy's Smart Grid Fund.
The demonstration project will include two Ontario-based utilities, each focusing on different grid optimization practices offered by the GRID20/20 OptaNODE™ Solution. GRID20/20 will install its Distribution Transformer Monitoring (DTM) intra-grid sensors throughout target areas of the utilities' distribution grids. The company will demonstrate a series of real-time, advanced grid intelligence benefits associated with its patented devices and proprietary software offerings.
The Ontario Ministry of Energy's Smart Grid Fund is designed to support the emergence and evolution of key technologies and services that will drive meaningful electricity delivery advancements for Ontario and worldwide while adding jobs and economic growth to the Ontario market
Alan Snook, President of GRID20/20, commented, "We are tremendously grateful to the Ontario Ministry of Energy for recognizing the benefits of our pioneering technology. At a time when traditional one-way power distribution is becoming antiquated, infrastructure is aging, and power delivery expectations are escalating, we are confident that GRID20/20 will meaningfully assist in the ongoing smart grid revolution while adding economic benefits to the Ontario market."
GRID20/20 will deliver a series of value propositions via its OptaNODE™ DTM intra-grid sensors. Needed services such as enhanced outage notification, transformer asset health monitoring, preventive maintenance awareness, detection of additional renewable resources added to the grid, improved management of bi-directional power influx to avoid grid destabilization and unmetered power loss identification collectively lead the long list of distribution enhancements.
The demonstration project begins during Q3 2014and will continue through November 2015.
Scott Bussing, VP Sales for GRID20/20, noted, "The Ontario Ministry of Energy remains a leading force in the quest for improved electricity distribution efficiency. Their vision of supporting companies such as GRID20/20 to ensure that best-in-class technologies will become effective contributors to the world's smart grid interest is tremendous." Bussing further noted, "We aim to deliver a very successful project for the Ministry of Energy, the collaborative utilities and their customers. Increasing operating efficiencies for utilities, providing cost savings for end users, and improving grid acceptance of renewables for conservation purposes is all achievable through our OptaNODE solution."
The company has been actively publishing a series of articles and conducting various interviews to promote the DTM intra-grid sensor awareness to the global electric industry. Their articles have appeared in market leading venues such as Smart Grid Newsletter, Smart Cities Council, and M2Mpaper. All publications are now available on the company's website (www.grid2020.com). The overarching theme clearly illustrates the tremendous value presented by intra-grid data being leveraged from transformer points throughout the distribution network as interest in Asset Management and Condition Monitoring (AMCM), and Bi-Directional Energy (BDE) begins to escalate worldwide.
GRID20/20's engineering corps is domiciled in Toronto, its manufacturing and primary consulting services are based in Ontario, and its corporate offices are located in Richmond, VA USA. Through its unique product line, configuration, and market approach, GRID20/20 is clearly poised to drive global relevance within the intra-grid sensor market.
For more information about GRID20/20 visit www.grid2020.com.