|[January 28, 2014]
GE Makes Investment in PoGensTM (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 IQTM
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 (News - Alert) 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 PoGen 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
"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 (News - Alert) @GEModernGrid.
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