NEWS
GridSense Acquires Transformer Contracting, Inc.
Los Angeles: 23 January 2008
GridSense Systems Inc. (GSN) announced that it has entered into an asset
purchase agreement, subject to regulatory approval, to acquire 100% of Transformer
Contracting, Inc., a California corporation specializing in transformer and substation
monitoring. As consideration for this transaction, Gridsense has agreed to deliver cash
and a promissory note for a combined total of approximately US$325,000 and to issue
3,000,000 shares of GridSense common stock.
This acquisition combines GridSense's proven T&D (transmission and distribution)
offerings and its global utility distribution channels with the commercial-ready,
advanced monitoring systems developed by Transformer Contracting, Inc for transformers
and substations. As the result of over nine years of development and extensive testing
by founder, Kevin Anderson, Transformer Contracting launched arguably the most
comprehensive, hardened and cost effective transformer monitoring platform available
in the marketplace to-day. The TransformerIQ is a scalable monitoring platform designed
to perform all possible tasks of oil-filled power transformer monitoring for new
transformer installations as well as retrofit.
GridSense awarded Funding for GridApps project
Los Angeles, 12 November 2007
GridSense Systems Inc. (TSXV: GSN) has been awarded a development grant
by GridApps to develop a DNP3 remote SCADA interface for GridSense's LineTracker
loggers, used by electricity utilities to collect critical operational information,
such as line load, fault currents and interruptions on overhead distribution and
transmission networks. The remote DNP3 interface will allow LineTracker data to be
easily and transparently integrated into existing utility systems, using industry
standard data protocols, with mesh radio and cellular communication platforms.
"This is an exciting stage of the internationally patented LineTracker development, that will expand the capabilities and value proposition of LineTracker sensors, by providing a simple, immediate and cost effective "plug & play" solution to power utilities" noted Nick Farrington, North American Sales Manager for GridSense Inc.
He added: "Increased visibility on the status and condition of power lines will improve the operation of distribution and transmission assets, enhance system reliability and lower operating expenses, as well as defer or avoid unnecessary capital expenditure."
GridApps is a Department Of Energy (DEO) sponsored consortium of member utilities, focused on utilizing emerging and proven technologies with best practices to support the modernization of the power grid. Of the GridApps consortium, Southern California Edison and Detroit Energy, the utility project sponsors, will be involved in field trials and validation, before scaling up with a larger deployment as part of their Intelligent Grid, now increasingly referred to as 'SmartGrid' Distribution Automation initiatives.
USA Sales Up 60% Over Last Year
Los Angeles, 3 July 2007
GridSense Systems Inc. (GSN) is pleased to announce a 60%
increase in sales from its North American office this year, compared with last year.
Nick Farrington, USA Sales Manager states "An increasing customer base and wider
adoption rate of the GSN offerings are the major contributions to the continual growth. Much
interest has been generated in the remote reporting feature of GSN's LineTracker range
which is now being instituted by several of the 60 NA Utilities using the LT40 and the new
generation LT50 which monitors conductor and ambient temperature as well as reporting
fault and load data on distribution and transmission networks".
Several Utilities are trialing GSN's new rugged PowerMonic PM40 Power Quality Analyzer
and this together with increasing sales of the DMSurveyor and DMS Pollution Monitor,
relatively new products in GSN's range, are also contributing to the increase. GSN predicts
this accelerating growth rate will continue as more penetration is made into the North
American market.
New Customers Purchase LineTrackers LT40 & LT50
Georgia, 25th May 2007
ALABAMA POWER has purchased both the LineTracker LT40 and LT50. The LT40's are for use as a troubleshooting tool and the LT50's for use in a demonstration project for wireless technologies.
GEORGIA POWER plans to install its first set of LineTracker LT50's to monitor a high voltage line on the barrier islands of Georgia. .
The LineTracker LT40 and LT50 are internationally patented, load, fault identification, protection validation and voltage status loggers, with the LT50 logging conductor and ambient temperature as well. They are now used by more than 45 Utilities in North America, several UK Utilities, as well as other major clients in South Africa and Australasia. The LineTracker system was designed to provide visibility over distribution and transmission networks, which had previously been cost prohibitive, with reliable fault location characteristics, particularly when multiple faults occur, but also to provide important power parameter and status logging. GSN is working with several of its customers to meet their specific requirements and overall distribution system needs, and to communicate this vital data instantly, via a wireless system. Once GSN has perfected this capability, it will work to place the LT 40 and LT50 on a wider scale, through much larger orders to its existing customer base worldwide. "The achievement of this scalability is GSN's engineering team's primary focus, and we are exerting every effort to satisfy the needs of our customers in the next fiscal year" says Adam Goldsmith, GSN's Engineering Manager.
Alabama and Georgia Power are operating companies of Southern Company.