GE Bolsters Grid Efficiency with Meridium's Software
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Press release date: February 12, 2014
Companies Combine Advanced Technologies to Provide Utilities with Proactive Approach to Distribution Management
Meridium Software Incorporates Criticality and Asset Health Information to Provide Actionable Data
Meridium's Data Collection and Management Capability Strengthens GE's Smallworld™ Offering
ORLANDO, FLA. — GE's Digital Energy business (NYSE: GE) today announced that it is collaborating with Meridium, a leading provider of asset management optimization software, to strengthen GE's grid and asset management optimization offering. GE and Meridium will provide customers with an improved asset management optimization solution to help identify and address challenges in their networks before they become problems.
Together, the companies will help utility customers reduce outage frequencies and cut the time required to make repairs when outages do occur. The proactive approach to asset management optimization enables utilities to provide reliable service to their customers while also allowing utilities to make better use of capital expenditures.
The announcement was made today at the 2014 Americas Software Summit.
Meridium, maker of the globally recognized Asset Performance Management (APM) system—a software suite that combines historical and dynamic asset health information with criticality—will infuse its data collection and distribution capabilities with GE's vast offering of distribution management software. Integrating Meridium's APM capabilities with GE's Smallworld™ Electric and Gas Distribution Office solutions will provide utilities with a complete understanding of the health and functionality of their distribution networks.
"Incorporating Meridium's advanced software solutions into our Smallworld platform will propel our distribution management offerings to a new level by strengthening our network data collection capabilities," said Mike Carlson, general manager—software solutions for GE's Digital Energy business. "Working together, we will provide utilities with a complete solution for all of their asset management optimization needs."
"Our Asset Performance Management Solution provides the framework for performance-driven, goal-oriented asset management optimization by addressing all aspects and challenges of an APM program in a single, comprehensive system," said Joe Nichols, vice president, product strategy, Meridium. "After identifying critical assets through a risk-based approach, our APM system applies advanced analytics to identify an optimal maintenance strategy for a utility's distribution system and infrastructure."
In addition, the technological capabilities of the two companies will allow utility operators and maintenance personnel to view their entire distribution network and assets. Displayed in a geographic map view, Meridium and GE will provide utilities with asset health and condition information in an intuitive visual interface. This provides improved network and asset management optimization by displaying system age, criticality and current conditions—all of which influence maintenance and repair strategies.
"The combination of technologies brought to life as a result of our collaboration with GE will help to position utilities to make more informed decisions surrounding asset investment and maintenance," Nichols continued.
GE's Digital Energy business is a global leader in transmission and distribution solutions that manage and move power from the power plant to the consumer. Its products and services increase the reliability of electrical power networks and critical equipment for utility, industrial and large commercial customers. From protecting and optimizing assets such as generators, transmission lines and motors, to delivering analytic tools to help manage the power grid, GE's Digital Energy business delivers industry-leading technologies to solve the unique challenges of each customer. For more information, visit http://www.gedigitalenergy.com/.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
Follow GE's Digital Energy business on Twitter @GEModernGrid.
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