GE Buying One of Its Ecomagination Challenge Contestants
GE, which you would think sponsors us given the large number of articles we’ve written about it this week (it doesn’t), recently announced that it is buying one of the top contenders from its Ecomagination Challenge. FMC-Tech, a company based in Ireland that provides real-time power line monitoring to help with quicker commercialization of power grid technology, is the company about to get bought out by GE.
“With the acquisition of FMC Tech’s portfolio, GE will be able to provide a new level of grid intelligence to utilities, improving decision-making and streamlining operations with real-time information on power outages and available capacity on power lines,” said Bob Gilligan, CEO of digital energy at GE Energy Services. “Utility operators can better balance the load by managing capacity and optimizing the amount of power sent through a line. Maintenance and repair crews can be more effectively dispatched for increased productivity, improved reliability and greater customer satisfaction.”
The acquisition is projected to be completed in July. All FMC-Tech employees will remain in Shannon, Ireland and work for GE’s Energy Services’ Digital Energy Smart Substation business.
Want a little more info on FMC Tech? Here’s more from GE:
FMC-Tech solutions are a key component of a utility’s distribution automation system that provide information on locating faults, providing dynamic line ratings and help manage maintenance and repair crews. The system is designed to easily integrate with supervisory control and data acquisition(SCADA), energy management systems (EMS) and demand management systems (DMS)/outage management systems (OMS).
Related Stories:
- GE Ecomagination Challenge Got 2,400 Entries in 9 Weeks, 2 Weeks Left
- $200 Million for Your Smart Grid Ideas: GE Ecomagination Challenge
- GE: Solar Power Cheaper than Fossil Fuels in 5 years
Image Credit: Screenshot of Ecomagination Challenge: Powering the Grid
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