C3 Energy wins 2015 Fierce Innovation Award

C3 Energy, a leader in enterprise analytic software solutions for the global energy industry, has announced that its predictive maintenance cloud-based software application has been recognised in the 2015 Fierce Innovation Awards.

C3 Predictive Maintenance received top honours based on its ability to help utilities accurately prioritise and optimise network asset management through advanced, cost effective technologies such as cloud computing, big data analytics, and machine learning. Through improved reliability and decreased maintenance costs, the software delivers an estimated recurring annual economic benefit of US$20/m to a utility and its users. Utility deployments of the cloud-based software at scale today are addressing more than 15 000 distribution feeders and 230 000 secondary substations, serving approximately 15 million users.

A panel of judges composed of energy industry experts from various energy companies evaluated solutions based on technology innovation, financial impact, market validation, compatibility with existing network environments, end-user experience, and overall level of innovation.

“Utilities are under increasing pressure to improve grid reliability while decreasing operating costs. Shifting from reactive to predictive maintenance can mitigate the risks and expenses associated with asset failure and emergency replacements,” said Ed Abbo, President and CTO of C3 Energy. He continuted “C3 Predictive Maintenance enables facilities, as well as power generators, oil and gas companies, and, really, any organisation with industrial equipment requiring continuous monitoring and regular maintenance, to understand and assess system risk and reliability in almost real time; identify high-risk assets before they fail, reduce unexpected capital and operating expenditures, and reduce unplanned outages.”

The award winning software uses scalable cloud computing to apply advanced machine learning algorithms to provide utility operators with diagnostic and planning tools that optimise power generation and transmission and distribution (T&D) system maintenance and management decisions. The software application improves on traditional asset monitoring and response by continuously analysing all available sensor data from advanced metering infrastructure (AMI), real-time operational input from SCADA systems, and other wide area measurement (WAM) sensors, including high frequency data from phasor measurement units (PMUs). In addition, it also correlates and analyses detailed operation, lifecycle, and maintenance history, reconstructs the state of the as-operated network at any given point in time, and tracks dynamic asset and system health scores across asset classes and on individual assets.

By deploying this new software, facilities will be able to evaluate the impact of high risk assets and networks on critical users, service reliability, utility revenue goals, and create maintenance work orders to mitigate unplanned outage risk. It can assess real time asset health and maintenance expense projections in order to reduce unexpected capital expenditures. Analyse assets by class and configure asset risk scores at granular levels across the network hierarchy, including region, transmission component, substation, feeder, transformer, and metre. Evaluate asset health trends and benchmark assets within classes, over varying time intervals and across regions, substations, circuits, and individual assets; and continuously monitor asset utilisation to identify under utilised assets, resulting in more effective capital investment planning.

Adapted from press release by Francesca Brindle

Read the article online at: https://www.hydrocarbonengineering.com/product-news/12112015/c3-energy-wins-innovation-award-1724/