Thursday, 6 March 2008

Current Expands Smart Grid Solution With Acquisition Of Kreiss Johnson Technologies

CURRENT announced an expansion of its Smart Grid solution with the acquisition of Kreiss Johnson Technologies (KJT), a leading developer of analytic software for electric utilities. KJT's enterprise software solution uses artificial intelligence and advanced analytic techniques to transform the millions of fault, event, disturbance and other operational data points that utilities have historically been unable to collect or process into actionable intelligence the utility can use to improve the efficiency and reliability of the electric distribution grid.

"A Smart Grid provides significant benefits to the utility, its consumers and the environment" said Tom Casey, Chief Executive Officer of CURRENT. "We continue to invest significant resources to develop and acquire technology like KJT that can further bolster CURRENT's robust Smart Grid solution." A Smart Grid can improve reliability by creating a self-healing distribution network capable of matching supply with demand, efficiently manage peak loads, minimize power disruptions, secure critical infrastructure assets, and ensure high-quality power. The Electric Power Research Institute projects that Smart Grid-enabled distribution systems in the U. S. could reduce electricity consumption by 5% to 10%, carbon dioxide emissions by up to 25%, and the costs of power-related disturbances to business by 87%.

CURRENT is integrating KJT's Enterprise Analyst product, which will now be called CURRENT Analyst™, with its network monitoring and CURRENT LOOK ® software solutions to provide the utility with unprecedented power. "Combining KJT's and CURRENT's solutions allows a utility for the first time to analyze the millions of devices on the electric distribution grid and to automatically receive actionable intelligence about areas of concern based on user-defined criteria at the engineer's desktop," said David Kreiss, KJT's former Chief Executive Officer, who along with his staff has joined CURRENT. "This means that an engineer is automatically sent a detailed analysis of any potential problem by email or cell phone and can use our solution to see exactly what is happening both upstream and downstream on the grid without even leaving his or her desk." This capability should facilitate the sharing of critical data across the utility, improve the productivity of the utility engineering staff, and maximize the use of replacement capital while improving the efficiency and reliability of electric service. Existing KJT customers will be able to continue to receive full support with their installed solutions, as well as access to new modules developed by CURRENT.


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