Awesense CEO Mischa Steiner-Jovic says, “We are honoured that Awesense Wireless has been recognized in this way. Our technology makes it possible to build a stronger and more efficient electrical energy grid. We look forward to showcasing our business and technology to key Silicon Valley venture and corporate investors.”
The company’s breakthrough smart grid technology helps utility companies reduce energy loss and increase profits via a user friendly line measurement platform. North American utilities lose more than $10 billion in annual revenue through inefficiency and electrical power theft. Typically, utilities have preventable amounting to $3 million per 100,000 homes. If those losses were recovered, the money could help keep electric rates lower and improve profitability. Awesense’s technology improves current methods of detection and elimination of these distribution line losses.
David Berkowitz, General Partner at Ventures West Capital, notes, “Awesense has developed a unique technology that has strong potential in the burgeoning grid management sector. The jury was impressed not only with the technology, but also with the early market acceptance of the Awesense product.”
In August 2010, Awesense was chosen to participate in the Entrepreneurship@Wavefront program, established by wireless commercialization centre Wavefront and BCIC to assist early-stage British Columbia wireless companies.
The Northern Cleantech Showcase will take place on Thursday, April 14th at the Garden Court Hotel in Palo Alto, California. For more information, visit: http://www.kachan.com/northern-cleantech-showcase/
Based in Kelowna, British Columbia, Awesense Wireless develops innovative wireless sensor technologies created to improve electrical grid efficiency. For more information, visit http://www.awesense.com.