CURRENT Expands Smart Grid Solution with Acquisition of Kreiss Johnson Technologies
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Delivers Real-Time, Actionable Intelligence to Utility Engineer's Desktop
GERMANTOWN, Md., Jan. 31 /- CURRENT today announced an expansion of its Smart Grid solution with the acquisition of Kreiss Johnson Technologies (KJT), a leading developer of analytic software for electric utilities. KJT's enterprise software solution uses artificial intelligence and advanced analytic techniques to transform the millions of fault, event, disturbance and other operational data points that utilities have historically been unable to collect or process into actionable intelligence the utility can use to improve the efficiency and reliability of the electric distribution grid.
"A Smart Grid provides significant benefits to the utility, its consumers and the environment" said Tom Casey, Chief Executive Officer of CURRENT. "We continue to invest significant resources to develop and acquire technology like KJT that can further bolster CURRENT's robust Smart Grid solution." A Smart Grid can improve reliability by creating a self-healing distribution network capable of matching supply with demand, efficiently manage peak loads, minimize power disruptions, secure critical infrastructure assets, and ensure high-quality power. The Electric Power Research Institute projects that Smart Grid-enabled distribution systems in the U.S. could reduce electricity consumption by 5% to 10%, carbon dioxide emissions by up to 25%, and the costs of power-related disturbances to business by 87%.
CURRENT is integrating KJT's Enterprise Analyst product, which will now be called CURRENT Analyst(TM), with its network monitoring and CURRENT LOOK® software solutions to provide the utility with unprecedented power. "Combining KJT's and CURRENT's solutions allows a utility for the first time to analyze the millions of devices on the electric distribution grid and to automatically receive actionable intelligence about areas of concern based on user-defined criteria at the engineer's desktop," said David Kreiss, KJT's former Chief Executive Officer, who along with his staff has joined CURRENT. "This means that an engineer is automatically sent a detailed analysis of any potential problem by email or cell phone and can use our solution to see exactly what is happening both upstream and downstream on the grid without even leaving his or her desk." This capability should facilitate the sharing of critical data across the utility, improve the productivity of the utility engineering staff, and maximize the use of replacement capital while improving the efficiency and reliability of electric service. Existing KJT customers will be able to continue to receive full support with their installed solutions, as well as access to new modules developed by CURRENT.
About CURRENT
CURRENT enables electric utilities worldwide to deploy and manage a Smart Grid benefiting utilities, consumers and the environment. CURRENT provides sensing technology, two-way high-speed communications, 24/7 monitoring and analytic software and related services to provide location-specific, real-time actionable data in an integrated Smart Grid solution. A Smart Grid allows consumers to manage their own electricity usage and enables the electric utility to monitor and control the network, resulting in reduced costs, increased reliability and environmental improvements. CURRENT's solutions also allow consumers and business users to have high-speed Internet access and voice services from any electric outlet.
In Texas, CURRENT is deploying its Smart Grid solution with TXU Electric Delivery Company, a subsidiary of TXU Corp., creating an advanced electric distribution infrastructure serving approximately two million homes and businesses throughout the Dallas-Forth Worth area and beyond.
CURRENT's investors include Duke Energy Corporation, EarthLink, Inc., EnerTech Capital, Google Inc., Goldman, Sachs & Co., General Electric Company, Hearst Corporation, Liberty Associated Partners (an investment partnership between Liberty Media Corporation and the Berkman family), Sensus Metering Systems Inc. and TXU Corp. Awards include the 2006 Platts' "Global Energy Commercial Technology of the Year" for its technology in relation to emissions reduction, practicality, reliability and overall commercial success, as well as Red Herring's "Top 100 North America." Further information about CURRENT Communications Group, LLC, a privately-held company based in Germantown, MD, is available at www.currentgroup.com.
Source: CURRENT
CONTACT:
Melissa Kresse for CURRENT,
O: +1-212-850-5695,
M: +1-646-621-4194,
E: Melissa.Kresse@FD.com
Web site: www.currentgroup.com/
