Varentec Announces International Distribution Agreements with 3M Company
SANTA CLARA, Calif., Oct. 26, 2016 /PRNewswire/ -- Varentec™, a leading Smart Grid technology company, announced today it signed exclusive international distribution agreements and US sales channel agreements with 3M Electrical Market Division. The agreement pairs Varentec's disruptive Grid Edge Volt VAR control solutions with the strong domestic and international presence of 3M in the Utility segment.
"An important element of positioning Varentec to meet the needs of the global utility customers looking to leverage Smart Grid technologies is having broad and diverse distribution," said Guillaume Dufossé, Chairman and CEO of Varentec. "3M has global reach and extensive logistics capabilities, as well as a highly trained sales team that will be able to touch a broad base of customers internationally. This agreement signals an important milestone in Varentec's continued leadership in the distributed grid control market."
Under the domestic sales channel agreement, 3M will employ its US sales & marketing expertise, and leverage the strength of its relationships with some Investor Owned Utilities, as well as with Public & Cooperative Power Utilities, to present and distribute the Varentec's product portfolio, which includes GEMS™ software platform and ENGO® grid edge control devices. The international distribution agreements are an important step in Varentec's global strategy, and will expand existing product technology into the Brazil, Mexico, Colombia and Italy markets.
"3M is excited to offer domestic and global access to Varentec's leading portfolio of smart grid VoltVar Optimization (VVO) solutions. The addition of these products supports our strategy to broaden our smart grid presence with products that accelerate and improve grid efficiency," said Alex Davies, Head of Global Business Development for 3M Electrical Products. "The developing global smart grid market represents a new growth opportunity for VVO solutions in the overall utility market, and Varentec is one of the most important grid modernization enablers in this industrial space. We look forward to working with Varentec in this relationship."
About Varentec
Varentec™ provides innovative solutions for the nascent era of distributed grid control. The Varentec ENGO® devices are deployed on the secondary side of the distribution grid to control voltage and reactive power in real time and eliminate grid edge voltage volatility, even when high numbers of distributed solar or wind systems are deployed on a circuit.
ENGO devices coupled with the GEMS software platform provide a complete, stand-alone solution to Distribution Utilities. In deployments across the U.S. and Canada, Varentec's technology is consistently achieving unparalleled energy savings or peak demand reduction of 5% or more through voltage reduction while significantly reducing technical losses.
Varentec™, ENGO® and GEMS™ are trademarks of Varentec Corporation.
3M is a trademark of 3M Company.
SOURCE Varentec
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