Plano, TX (PRWEB) July 25, 2013
OptiSense Network LLC™, (http://www.optisense.net) a leading global provider of optical sensor-based solutions for automating electrical distribution networks to enable the Smart Grid, announced today that OptiSense has been selected as a finalist for the 2013 Tech Titans “Emerging Company Innovation” award by the Metroplex Technology Business Council (MTBC).
Tech Titans are recognized as outstanding technology companies and individuals in the North Texas area who have made significant contributions to their industries during the past year. The winner will be announced August 23, 2013.
“OptiSense is doubly excited to be selected as a finalist for its second Tech Titans award,” says Stephen Prince, President and CEO of OptiSense. “In addition to being chosen as a finalist for the Emerging Company CEO award, our performance has captured a second finalist award for Emerging Company Innovation. Wow!”
The Tech Titans Emerging Company Innovation award recognizes technology companies headquartered in the DFW Metroplex with 2012 operating revenues of at least $2 million but no more than $200 million. Award qualifications include proprietary ownership of a “breakthrough” technology, how the company has advanced the industry, and achievements to date.
OptiSense is an emerging leader in Distribution Automation, a $133B opportunity within the global Smart Grid industry. There are more than 6.2 M miles of distribution lines in North America with much of the distribution grid being 30-50 years old. Transmission and distribution systems lose approximately 7% of electricity generated annually.
The Electric Power Research Institute (EPRI) estimated that up to 70% of electricity loss occurs on distribution systems that carry power to homes and businesses. California lost about 6.8 percent of its power to line losses in 2008, at a value of about $2.4 billion in electricity.1
Additionally, mature distribution grids in Europe, containing high concentrations of distributed generation assets, are beginning to fail – forcing a re-architecting of power distribution.
“OptiSense solutions are capable of changing the entire method of distributing medium voltage power in a world quickly adopting renewable and distributed energy assets,” says Prince.
“The distribution systems must be upgraded to meet the demands of electric vehicles, renewable energy, power reliability, and better outage management. Our medium voltage, optical current and voltage sensor solutions are critical, as they provide the most accurate intelligence beyond the substation that utilities need to deliver renewable energy, control voltage, restore power, and reduce line losses,” he notes.
OptiSense's growth rate, investment attractiveness, and disruptive technology points a global spotlight on OptiSense as a leading Smart Grid technology provider. OptiSense's success is generating strong investment interest from US and international investors in Europe and China.
1. “1.2 Trillion Metric Tons of CO2 in Line Losses: The environmental case for a more efficient grid” – Jeff St. John, GreenTech Grid, June 20, 2012
OptiSense Network, LLC™ (http://www.optisense.net) is a leading global provider of optical sensor-based solutions for automating electrical distribution networks to enable a Smart Grid. Its proprietary optical technology platform permits high-accuracy measurements of current and voltage-related data (including high frequency components) that enable network operators to improve distribution system reliability, efficiency, and control. Headquartered in Plano, Texas (DFW), Optisense’s 15KV, 25KV, 35KV, and 46KV sensor solutions are used by distribution utilities and operators in North America, EMEA, Asia, and Latin America seeking intelligence beyond the substation. OptiSense may be contacted at 866.530.4698 or at inquiries[at]optisense[dot]net.