Awesense Wireless Selected to Present its Breakthrough Smart Grid Technology at Northern Cleantech Showcase
KELOWNA, BRITISH COLUMBIA, Apr 6, 2011 (Marketwire via COMTEX) --
Awesense Wireless, a developer of wireless technologies that help detect power loss and increase electrical distribution efficiency, announced today that it has been selected to present its wireless sensor system at the reputable Northern Cleantech Showcase in Silicon Valley. The special invitation-only event will be showcasing seven jury-selected, Vancouver-area clean technology companies that have been deemed "most fundable" to Silicon Valley investors. The selection committee included Kachan, Deloitte, Gowlings, Greentech Exchange Vancouver and investors GreenAngel Energy, Ventures West and Yaletown Venture Partners.
"We are honoured that Awesense Wireless has been recognized in this way. Our technology makes it possible to build a stronger and more efficient electrical energy grid. We look forward to showcasing our business and technology to key Silicon Valley venture and corporate investors," said Awesense CEO Mischa Steiner-Jovic.
Its breakthrough smart grid technology helps utility companies reduce energy loss and increase profits by using an easy to deploy line measurement platform. North American utilities lose more than $10 billion in annual revenue due to inefficiency and electrical power theft. On average, a utility has avoidable losses of $3 million per 100,000 homes, which, if recovered, could help keep electric rates lower and improve profitability. Awesense's technology represents an order of magnitude improvement over current methods for detection and elimination of these distribution line losses.
"Awesense has developed a unique technology that has strong potential in the burgeoning grid management sector. The jury was impressed not only with the technology, but also with the early market acceptance of the Awesense product," said David Berkowitz, General Partner Ventures West Capital.
Founded in 2009, in August 2010, Awesense was chosen to participate in the Entrepreneurship@Wavefront program, an incubator formed by wireless commercialization centre Wavefront and BCIC to assist early-stage B.C. wireless companies.
The Northern Cleantech Showcase will take place on Thursday, April 14th at the Garden Court Hotel in Palo Alto, California. For more information visit: http://www.kachan.com/northern-cleantech-showcase/
About Awesense Wireless
Awesense Wireless is a developer of innovative wireless sensor technologies created to improve electrical grid efficiency. The Awesense platform helps utility companies identify electrical distribution losses, lower utility costs for the end-user, and lighten the burden on the planet. Awesense Wireless was founded in 2009 and is based in Kelowna, British Columbia. For more information, visit http://www.awesense.com.
SOURCE: Awesense Wireless
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