The increase in revenue this quarter is also a strong indicator that our innovative product is being well received in the market
Littleton, MA (PRWEB) July 28, 2014
GridEdge Networks Inc., a provider of innovative grid protection and communications systems used by electric utilities on medium and high voltage power lines announced today sales growth of its commercially available Distributed Generation Transfer Trip Protection system and the addition of Victor Brown as its new head of Sales and Marketing.
The Distributed Generation Transfer Trip Protection (DG-TTP) system is required for most utility scale energy generators (e.g. solar, wind) that directly attach to the distribution grid. The DG-TTP provides state of the art grid protection in situations of unintentional islanding, by detecting the islanding condition and disconnecting the energy generation facility within two seconds as required by the criteria established in the IEEE-1547 regulatory standard.
A major benefit of the GridEdge Networks DG-TTP solution to a utility and its distributed generation customers is the relatively low life cycle costs and its fast installation process. This trip protection system can be installed on existing energized primary lines, requires minimal ongoing maintenance, and helps in reducing the utility’s operating costs.
GridEdge Networks announced that it has doubled its products sales in Q2 2014 since the product was introduced in the middle of Q1 2014. The company already has five field installations in MA with two utility customers and expects to increase its product sales in the second half of 2014.
Nachum Sadan, President & CEO of GridEdge Networks, stated: “The growth that we have experienced at GridEdge Networks this quarter is testimony to the business benefits of having a market-focused approach combined with close collaboration with our customers. The delivery of our DG-TTP solution is a great example of that model, where we introduced the system in February and already have five deployments from two customers and more customers are inquiring about the product every week. The increase in revenue this quarter is also a strong indicator that our innovative product is being well received in the market. In order to continue the market momentum and grow product sales I brought on board a seasoned executive to lead our sales and marketing efforts. Victor Brown will be a great addition to our team in helping me position the company for fast paced growth in 2014 and beyond.”
Victor Brown, Vice President Sales & Marketing, added: “With the introduction of GridEdge Networks’ patented DG-TTP Solution, we have managed to raise the bar for reliability, while simultaneously lowering the cost. Historically, increasing the level of reliability and security has been accompanied with an increase in cost. As a result of our innovative approach, we are receiving increased appreciation for this achievement from our growing list of customers. Given that reliability and security are top priorities for utilities, it makes sense to deliver solutions that deliver value on those fronts, which the DG-TTP solution does. Therefore, we are anticipating that the market will continue to receive this innovation well. The fast adoptions along with the high satisfaction levels from our customers are strong indicators that we have delivered tremendous value, which is very exciting to our entire team.”
“There is a direct and positive correlation to the increased adoption of renewable generation and the need for a transfer-trip protection solution. Given this reality, the team at GridEdge Networks is very confident that the value we are delivering to our customers will continue to extend to other clients.”
Please contact GridEdge Networks for details regarding the DG-TTP system and to inquire about solutions for your utility scale DG projects that require trip protection.
Inquiries can be directed to info(at)gridedgenetworks(dot)com.
About GridEdge Networks
GridEdge Networks Inc. is a privately held company located in Littleton, MA, delivering reliable and cost effective protection systems and substation communications products to electric utilities. The company developed the Transfer Trip Protection product for Distributed Generation applications over medium voltage distribution lines, and a Substation Communications product using Broadband Powerline Carrier (B-PLC) technology over high voltage transmission lines.