SMART WIRES EXTENDS COMMERCIAL OFFERING BY PARTNERING WITH SOFTWARE PROVIDER OPERATO
Smart Wires Technology Ltd (“Smart Wires”) today announced a new agreement with Operato d.o.o. (“Operato”) to act as a re-seller for Operato’s SUMO Dynamic Rating System. This compliments and strengthens Smart Wires’ existing offering to help grid operators meet the demands of renewable energy adoption and demand-side electrification with advanced data analytics, system modeling and power flow optimization.
Powerful synergies exist between these technologies. Power flow control (Smart Wires existing offering) maximizes the use of grid capacity by redirecting power flows to underutilized lines. A dynamic rating system (Smart Wires new offering) uses weather data to find and quantify situations where even more additional capacity might be available. The combined application of these two technologies creates a multiplier effect which enables much more renewable energy to flow on the existing grid infrastructure. The total available market for dynamic rating systems and the additional power flow control technology required to fully leverage the newly identified circuit capacity is estimated at $10B per annum.
“Smart Wires teaming up with Operato significantly strengthens our current commercial offering by combining modelling, analytics, power flow control and dynamic ratings,” said Peter Wells, Smart Wires CEO. “This partnership creates a high-impact value proposition for our customers.”
There is growing industry agreement on the importance and criticality of leveraging dynamic ratings for lines and other electric system equipment to improve system safety and efficiency. Earlier this year, FERC (the national regulator for electric utilities in the US) opened a notice of inquiry on dynamic line ratings which seeks guidance on a threshold for transmission lines to qualify for a dynamic line rating requirement.
Andrej Souvent, Operato CEO, commented, “We are one of the industry leaders in the Dynamic Ratings space in Europe with technology proven on live utility systems for over 10 years. Partnering with Smart Wires will accelerate our growth, as Smart Wires has a demonstrated global track record of working with utilities to solve complex challenges on the grid by getting more from today’s infrastructure.”
CONTACTS
Julie Andrews, CFO
E-mail: julie.andrews@smartwires.com
Tel: +1 (901) 687-8314
Smart Wires’ Certified Adviser is Erik Penser Bank AB, Apelbergsgatan 27, Box 7405, SE-103 91 Stockholm, E-mail: certifiedadviser@penser.se, Tel: 08-463 83 00, www.penser.se.
ABOUT SMART WIRES TECHNOLOGY LTD.
Smart Wires conducts grid technology business that helps utilize, modernize, optimize and monetize grid capacity to meet the demands and opportunities of the energy transition. The Company operates in the global transmission grid technology market and is a leader in modular power flow control technology. Power flow control technology controls and directs power flow on high voltage electric transmission systems. Smart Wires serves transmission owners, primarily electric utilities. Transmission owners use power flow controllers to eliminate line overloads by redirecting power to other lines, to reduce transmission congestion, and to enable renewable energy connection and dispatch. Currently, Smart Wires’ main projects are located in Europe, the United States and Australia with upcoming projects in South America and Canada. The Company has a large customer base comprised of utilities globally. Smart Wires Technology Ltd is listed on the Nasdaq First North Growth Market. For more information, please visit www.smartwires.com.
ABOUT SUMO
SUMO is an indirect dynamic rating system. This software-based offering with an optional hardware component provides system-wide visibility of lines, transformers and other network equipment in real-time and for future forecasts. Electricity system operators use insights from SUMO to optimize network operation, increase grid capacity and improve operational safety. Since no hardware is required, SUMO can be deployed faster and at a lower cost compared to traditional dynamic rating technologies.
ABOUT OPERATO
Operato is a subsidiary of ELES Group which is controlled by the Slovenian transmission system owner and operator ELES d.o.o. Operato is a Grid Enhancing Technology provider with a mission to empower power system operators with efficient solutions that follow green transformation principles and are based on the experience and know-how of an innovative TSO.