Pointerra awarded US$1.63m US Department of Energy contract
Company to determine optimal resilience investments for electricity utility sector
Best practice approach intended to be scalable throughout North America
Special Report: Pointerra has been awarded a US$1.63 million (A$2.47 million) contract by the US Department of Energy for an R&D program collaborating with select Northeast US region electric utilities and university partners to optimise resource allocation in response to climate change.
The geospatial analytics company has been selected to collaborate with three electric utilities – Avangrid, Eversource, and National Grid.
Three university partners – Cornell University, University at Albany – State University of New York, and the University of Connecticut – will also join to develop a cost-benefit methodology using Pointerra’s (ASX:3DP) Pointerra3D program.
It will evaluate the impacts of various grid resilience investments under forecasted climate change scenarios, providing a best practice approach to determine optimal resilience investments.
The award of this contract, leading a high-profile group of electric utilities and universities, enhances the company’s visibility and credibility in the US electric utility sector.
Optimising resource allocation across North America
Pointerra will acquire and process 2D and 3D data to build digital twins of circuits in the service territories of the utility partners in Pointerra3D.
The program will then use Pointerra3D to develop a dynamic risk assessment model that provides scenario analysis capabilities to evaluate the impacts of various grid resilience investments under forecasted climate change scenarios.
The aim is to help electric utilities optimise their resource allocation, reduce the frequency and severity of power outages, and enhance the overall resilience of the power grid.
The best practice approach is intended to be scalable across multiple regions throughout North America.
This will provide Pointerra invaluable exposure and validation of its Pointerra3D digital twin solution for the US electric utility sector, which is collectively engaged in multi-billion-dollar, multi-year grid resilience programs.
This article was developed in collaboration with Pointerra, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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