ELEQUANT’S GRID MONITORING TOOL RECEIVES TECHNOLOGY INNOVATION HONOR FROM FROST & SULLIVAN
Frost & Sullivan will present EleQuant with the 2005 Grid Monitoring Technology Innovation of the Year Award at tonight’s Excellence in Industrial Technologies Banquet
Naples, Fla. — May 25, 2005 - EleQuant receives the recognition for developing advanced grid observation reliable algorithms (AGORA™), a path-breaking grid monitoring technology that holds great promise for the ongoing challenges in high-voltage electrical transmission management.
AGORA incorporates an algorithm developed by Antoni Trias, Co-Founder, Vice President of Research and Development of GRUPO AIA, and surfaces in North America at a critical time when much of the electric power industry is unbundled, decentralized, and carrying power over longer distances. This has made a holistic view of the state of a transmission network critical, yet difficult to obtain.
"The ability to monitor and manage real-time operations has become paramount for ensuring reliable and efficient grid operations in North America's electrical industry,” says Frost & Sullivan research analyst Balaji Raman. Prior to deregulation, utilities had full control of their assets. By being fully integrated, electric utilities' transmission networks were easier to manage. This is no longer the case – end-users are concerned about the optimization of power, and they seek analytical tools that monitor the grid on a real-time basis and alert them about specific contingencies."
Existing Newton-Raphson-based grid management software systems are no longer adequate in today's energy environment. They cannot process large amounts of data in real time or provide dependable information to the operator when required.
However, EleQuant's AGORA works reliably even under disturbance conditions. The results of the state estimator are true physical solutions of the transmission system because of the mathematical characteristics of its power flow calculation method.
Moreover, the system can be installed in two to four months, thereby helping end users realize their return on investment over a shorter period. When a grid operator encounters an application issue or bug, EleQuant engineers respond promptly to analyze and resolve the issue. Restoration time can be reduced dramatically. Use of the system also reduces the manpower needed to address grid management issues, an important factor in these times of tight utility budgets.
For its timely development of a solution that holds great promise toward alleviating grid reliability issues in the North American power transmission sector, EleQuant is a worthy recipient of the 2005 Technology Innovation of the Year Award.
Frost & Sullivan presents its Technology Innovation of the Year Award each year to the company that has developed an innovative technology that has demonstrated superior performance within its industry in comparison to prevailing industry standards. In addition, this Award recognizes the ability of the company to successfully develop and introduce new technology, formulate a well-designed product family, and make significant product performance contributions to the industry.
About EleQuant
EleQuant is a wholly-owned subsidiary of the Barcelona, Spain-based technology and software development company, GRUPO AIA. Specializing in solving complex problems for the energy, banking and telecommunications industries, GRUPO AIA is known throughout Europe for developing innovative solutions in areas such as intelligent observation and management of electrical grids, electricity demand forecasting, and river basin hydro-generation optimization.
In 2002, the company launched its U.S. operations with the formation of EleQuant, headquartered in San Francisco. EleQuant provides the company's energy products to utilities, independent system operators, regional transmission operators and other organizations involved with management of electricity grids in the U.S. and Canada. To learn more about EleQuant, visit www.EleQuant.com.
Contacts:
John Sell
EleQuant
415-978-9800
john.Sell@elequant.com
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.
Contacts:
Stacie Jones
Frost & Sullivan
210.247.2450
Stacie.jones@frost.com