Alliance Combines Beckwith's Industry Leading Protection and Controls Solutions with CURRENT's Leading Distribution Smart Grid Software and Analytics Technology
GERMANTOWN, Md. and LARGO, Fla., Jan. 12 /PRNewswire/ -- CURRENT Group and Beckwith Electric announced today that they have entered into an agreement to integrate CURRENT's Volt/VAR Control and Dynamic Voltage Optimization solutions with Beckwith Electric's Load Tap Changer, Voltage Regulator and Capacitor Controls, enabling electric utilities to reduce technical losses, optimize feeder voltage profiles during normal operating conditions, and reduce load demand through voltage optimization. The relationship also sets the stage for future joint development opportunities between both companies to further enhance and expand these system optimization capabilities to further enhance the electric grid.
The CURRENT-Beckwith Electric relationship leverages the extensive experience of both companies to deliver proven solutions that unlock the full operational and economic power of a smart electric grid. The alliance will take full advantage of leading-edge distributed monitoring, recording, control and intelligence, residing in sensing and distribution control devices provided by Beckwith Electric, and integrate these with sophisticated centralized control algorithms provided by CURRENT's system optimization software suite to achieve significant reductions in technical losses and overall load requirements. This solution can be deployed rapidly and achieve results without impacting customer behavior or require customer involvement.
"CURRENT Group delivers critical hardware, software and analytics solutions that help electric utilities dynamically manage their distribution system. Through utility distribution smart grid investments in this area, utilities are better able to efficiently and cost-effectively exercise greater dynamic management of their grid operations. This will increase reliability, reduce system losses and enable utilities to respond expediently to carbon imperatives," said Tom Casey, CEO of CURRENT. "By leveraging strong alliances with industry leaders such as Beckwith Electric, CURRENT is in a strong position to continue to deliver market-leading state-of-the-art intelligent distribution solutions that help utilities cost effectively and quickly deploy Smart Grid today and realize ongoing benefits to consumers and the environment from these investments for years to come."
"CURRENT's sensors and software combined with Beckwith Electric's hardware control devices will allow utilities to manage the distribution system dynamically and in real-time, permitting a reduction in the need for new power plant construction and the release of needed capacity in the existing grid," said Tom Beckwith, CEO of Beckwith Electric. "The CURRENT-Beckwith Electric Team will allow utilities to implement a complete solution with a rapid return on investment."
About Beckwith Electric
Beckwith Electric, founded in 1967, is a premier provider of innovative and high quality products, technical services and solutions that meet the needs of customers involved in the production, transmission, and distribution of electric power. Beckwith Electric's products include load tap changer, voltage regulator, and capacitor controls, protective relays, custom services and solutions, and equipment for synchronizing and motor bus transfer. Beckwith Electric is a leader in Voltage and VAR management, critical to present Smart Grid strategies. Customers include electric utilities, large industrial companies, original equipment manufacturers and owners of alternative sources of energy. Beckwith Electric's products are sold to utilities, large industrial companies, original equipment manufacturers and owners of alternative sources of energy. http://www.beckwithelectric.com/.
About CURRENT Group
CURRENT Group, LLC delivers innovative and industry-leading intelligent solutions that optimize the distribution system and offer utilities new ways to monitor and manage the health of the grid. Through CURRENT's distributed sensing, monitoring, and analytical technologies, utilities are better able to understand, predict and respond to system disturbances and faults, identify where inefficiencies are, and enable the smartest possible sourcing and distribution of power.
CURRENT's state-of-the-art technologies are being implemented by utilities around the globe and are being utilized in the largest and most advanced demonstration projects in the world. CURRENT is engaged in European Union-sponsored projects in partnership with Iberdrola, the world's 4th largest electric utility, among others, to expand the use of Smart Grid technology in the European Union. This year, CURRENT was honored by the World Economic Forum as a 2009 Technology Pioneer, selected by Venture Beat as one of the World's Top 10 Most Innovative Smart Grid companies, and selected by Dow Jones as one of the Top 10 most Innovative Clean Technology companies in Europe.
CURRENT is a private company founded in 2000 that is backed by leading investors including Liberty Associated Partners, EnerTech Capital, Google, Inc., and Goldman Sachs & Co.
CURRENT is headquartered outside of Washington, DC, with offices throughout the United States and Switzerland and Singapore, with representation in Australia. Additional information can be found at http://www.currentgroup.com/.
SOURCE CURRENT Group, LLC