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CoSMo Company Debuts New Asset Investment Planning Solution to Dramatically Improve How Utilities Ensure Continuous Electrical AvailabilityThe CoSMo [Complex Systems Modeling] Company (CoSMo), developer of system-driven predictive analytics software, today announced the launch of the first holistic Asset Investment Planning (AIP) solution, developed in partnership with a leading European utility, Réseau de Transport d'Électricité (RTE). With nearly 105,000 km of lines, RTE's grid is the biggest in Europe, and the AIP solution developed by CoSMo and RTE will provide the utility and regulators with a predictable model for determining optimal trade-offs between spending (OPEX (News - Alert) & CAPEX) and electrical transmission reliability. This significant achievement is the fruition of CoSMo's unique modeling and simulation platform for complex systems, which can and will be duplicated for other critical industries, addressing the behaviors of their most complex systems to make them more predictable, manageable and efficient. "In most countries, electrical assets (transmission lines, transformers, and other critical components) are reaching their end of life and, as a result, those utility markets are facing an unavoidable wall of investment. In the meantime, distributed generation is starting to impact when and where new investment should be made," said Marc-André Forget, CEO of Ossiaco, a leading consulting boutique in the electricity industry. "CoSMo's AIP solution, by allowing a holistic view of the investment portfolio (CAPEX and OPEX) and its capacity to simulate the impact of any decision - including risk and quality of service - will simplify and transform utility industry relations with stakeholders (including public utility commissions)." Unlike traditional AIP solutions that consider systems in silos, working with a partial picture by considering each class of asset separately and not taking into account the dynamics of interactions, CoSMo's first holistic AIP solution incorporates a detailed representation (model) of the transmission grid. This includes all physical assets and also all human resources, finncial metrics and constraints and their interactions in time. It enables utilities to make optimal investment decisions based on the best predictive models. This software, called MONA (Management and Optimization of Network Assets-Electric Utilities) is developed in partnership with RTE, with CoSMo providing its unique complex systems modeling and simulation platform and methodology, allowing it to create system-driven predictive analytic software. "The CoSMo AIP solution is unique and brings a holistic and dynamic approach, which allows the system to be optimized globally, achieving the best results for RTE," said Olivier Grabette, deputy CEO of RTE. "It allows us to find the most efficient maintenance policies in terms of cost, electricity quality, environmental impact and security. This optimization of our transmission assets is fundamental for RTE, which spends annually 700M€ (approximately $800M) in maintenance and refurbishment, which is constantly increasing - an issue all electric transmissions utilities are facing." This AIP solution dedicated to electric utilities is the first of many applications that will leverage the MONA platform to create similar game-changing solutions for rail, gas transmission, communication and other highly complex networks. It is also the first CoSMo solution representing only one of the potential applications that can be developed based on CoSMo's predictive analytic solution. "We have the opportunity to bring this revolutionary solution to market in Europe and North America through the partnership," said Michel Morvan, co-founder and executive chairman of The CoSMo Company, CEO of CoSMo USA. "We are also pleased to have such a leading and visionary utility such as RTE accompanying us as we launch this solution." "Our MONA solution for electrical transmission is only the first of many applications we are planning to launch over the next 18 months, allowing other industries to be transformed by our revolutionary approach to complex systems analytics," said Hugues de Bantel, CEO of The CoSMo Company. To learn more about MONA visit: http://www.thecosmocompany.com/portfolio-item/mona/ About The CoSMo Company CoSMo is a software company offering revolutionary modeling and simulation solutions to help industries operate their digital transformation by better understanding their systems and leveraging their data. Industries are facing increasingly complex systems, where everything is interconnected. CoSMo has developed the world's first systemic solution allowing it to build game changing applications to better understand, design, and manage critical systems. Global leaders such as RTE, Alstom, GE, Total, EDF, Veolia, SNCF or Sanofi Pasteur already rely on CoSMo's solutions to operate their digital transformation and optimize their operational performance, in the fields of energy, transportation, urban systems or life sciences. Follow CoSMo on LinkedIn and read more on the company blog.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160524005501/en/ |
