GE Makes Investment In PoGens (Power Generation Services, Inc.); Supports Grid Modernization Trend In Utilities
SAN ANTONIO--(BUSINESS WIRE)--
With utilities looking for alternate ways to modernize their grids, many have turned to cloud-based technology like GE’s (NYSE: GE) Grid IQTMSolutions as a Service (SaaS) platform, which provides all of the benefits of a modern grid at a fraction of what it would cost a utility to completely overhaul its existing infrastructure. Today, GE’s Digital Energy business announced it has made a minority investment in Power Generation Services, Inc. (PoGensTM). PoGens is a turnkey provider of managed energy services for distributed generation and distributed energy resources in North America. Terms of the transaction were not disclosed.
In the near future, GE will add the PoGens capability to its suite of Grid IQ solutions to form an offering that combines GE’s grid monitoring, outage detection and asset management technology with PoGens’ commercial generation assets to provide customers, such as utility companies, with tools to improve the reliability, productivity and efficiency of their electric distribution systems.
“Lately, we have seen a growing trend within the utility industry—a shift to grid management software implementation to improve efficiency and resiliency of distribution grids. Our cloud-based SaaS platform improves the functionality of a utility’s grid and helps enable the company to address long-term energy challenges and meet growing customer needs,” said Todd Jackson, product line leader—software solutions, GE’s Digital Energy business. “Our relationship with PoGens will help to strengthen our current Grid IQ SaaS offering and will allow us to provide additional value to customers who are looking for power predictability and reliability without incurring the high costs associated with buying emergency power during extreme weather events.”
Grid IQ SaaS, one of GE’s innovative Industrial Internet technologies, provides small- and mid-market utilities with the grid-modernization technology they need without the overhead expenses associated with developing their own smart grid networks. The solutions included in GE’s SaaS offering, along with the advanced capabilities of PoGens, empower utilities of all sizes to create modern, interconnected grids to meet the needs of today’s ever-evolving businesses.
“Having worked closely with GE for the past year, this investment accelerates the integration of our managed services with GE’s grid management software,” said Jim Szyperski, CEO, PoGens. “Use of distributed energy resources helps position utilities to meet energy demands when they are forecasted to exceed capacity.”
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/.
About Power Generation Services, Inc.
Power Generation Services, Inc. is a turnkey provider of managed energy services for distributed generation and distributed energy resources to market participants, municipal power agencies, cooperatives, individual asset owners and commercial/industrial customers in North America. PoGens provides a complete energy management infrastructure that includes monitoring, control, compliance and dispatch of our customers’ emergency generation assets into the North American power markets. In an increasingly complex and ever changing energy environment, our mission is to leverage our national energy services platform to assist customers in the transition toward cleaner energy, enhancing grid stability, while enhancing profitability of generation and curtailment assets.
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.
Copyright Business Wire 2014