FRISCO, Texas, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Sentient Energy, a Koch Engineered Solutions (KES) company, today announced it has acquired grid edge intelligence and dynamic control technologies from Varentec, Inc. Varentec's grid edge optimization hardware and management software help utilities operate the power grid more efficiently by enhancing energy savings and demand reduction, better managing the integration of distributed energy resources like solar and electric vehicles, and mitigating voltage fluctuations caused by sudden increases or decreases of load or distributed generation.
"This technology acquisition along with our advanced analytics capabilities positions Sentient Energy as a comprehensive solutions provider for today's increasingly complex distribution grid management needs," Bob Karschnia, Sentient Energy's CEO said. "And, there's more to come as we continue to expand our capabilities to help grid operators have visibility and control from substation to meter."
The technology acquisition gives Sentient Energy customers comprehensive visibility and control of grid performance from the utility substation transformer to beyond the service transformer from a single vendor. Sentient Energy adds Varentec's proprietary algorithms, patented voltage monitoring, and dynamic control technologies to its suite of devices and advanced analytics for electric power systems. The combined technologies will give utilities unparalleled distribution grid visibility and control for greater safety, reliability, and efficiency of the entire distribution grid across both medium and low voltage distribution networks.
Varentec, backed by Bill Gates, Khosla Ventures and 3M, has invested over a decade of engineering to produce solutions that dramatically improve the management of energy and demand at the edge. The company's hardware and management software monitor grid voltage and give utilities the ability to react to voltage fluctuations much more quickly than traditional electro-mechanical medium voltage equipment. Varentec's capabilities are complementary to Sentient Energy's grid sensing and predictive analytics platform. The combined solutions represent a marked advancement in distribution grid management and will yield greater efficiency and cost savings for utilities.
"Adding Varentec's capabilities to the Sentient Energy platform is an example of our commitment and increased focus to provide differentiated offerings that support the electrification of everything. By providing utilities with a single, trusted source for cutting-edge grid management tools, Sentient Energy is helping utilities reduce the challenges associated with aging infrastructure and distribution grid modernization needs," said Dave Dotson, President of Koch Engineered Solutions.
"KES and Sentient Energy have the needed set of experience and resources to take the Varentec grid edge hardware and software technologies to the next level," said Guillaume Dufossé, CEO of Varentec.
About Sentient Energy
Sentient Energy, a Koch Engineered Solutions company, is the premier Intelligent Sensing Platform Provider for power utilities. Sentient Energy provides the industry's only Grid Analytics System that covers the entire distribution network with quickly-deployed intelligent sensors and analytics that identify and analyze potential faults and other grid events. Sentient Energy leads the market with the largest mesh network line sensor deployments in North America helping utilities deliver power reliably and safely. Sentient Energy partners with the majority of leading utility network communication providers. For more information visit www.sentient-energy.com.
About Varentec
Varentec® brings intelligence and dynamic control to the edge of the grid through its Edge of Network Grid Optimization (ENGO®) hardware and Grid Edge Management System (GEMS®) software. This unique Grid Edge Control solution augments standard grid modernization systems, enhances energy/demand savings, and boosts DER hosting capacity. Originally funded by Bill Gates, Khosla Ventures and 3M, Varentec is dedicated to delivering distributed intelligence through utility-owned, ubiquitous, and cybersecure hardware + software grid control solutions. For more information, visit www.varentec.com.
Copyright © 2021 Sentient Energy® Inc. All rights reserved.
Sentient Energy Media Contact:
Sarah Prinster
sprinster@sentient-energy.com
+1 415.726.8773
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
