Awesense, the leading provider of advanced technologies to economically reduce grid power loss, announced the launch of its new service based on the groundbreaking SenseNET solution.

The latest SenseNET-based service offering will help utilities to prevent power loss due to transformer overloads, theft, or other problems, without any form of upfront investment.

The SenseNET solution, on which Awesense’s new service offering is based, is a comprehensive yet economical system that combines the power of data analytics, hardware, networking and latest monitoring technology to identify, characterize and verify loss of power from equipment failure. The system also identifies and verifies power diversion caused due to wiretapping or meter tampering.

The SenseNET solution by Awesense is currently deployed in North America, helping clients like Fortis BC and others utilities to efficiently recover ten million dollars in “avoidable power loss,” due to theft or equipment failure.

This revolutionary system by Awesense has also been designed as an effective planning tool for power providers and grid operators, enabling them to accurately identify the potential susceptibilities before any major failure or power loss occurs.

Awesense has deployed SenseNET technology only to utilities till date, but the latest SenseNET service will allow the utilities to access the core benefits of this technology via “managed service offering.”

Talking about power loss, Mischa Steiner-Jovic, the Chief Executive Officer of Awesense, stated that the unexpected power loss is fast emerging as a major problem. Despite investing billions of dollars in power every year, the utilities and power providers don’t get compensated for same as it never reaches the customers. There are increasing instances of power theft and electricity loss, in addition to other major problems such as power shortage, fire and injuries – “this is indeed a crime,” added Mischa.

According to an estimate by the World Bank, almost $202 billion worth of power is lost every year due to theft or equipment failures. However, SenseNET solution will transformsthis dynamics by way of drastically reducing equipment, capital, and people needed to prevent power loss.

SenseNET Monitor is a highly networked, accurate sensor that is clipped into distribution and transmission lines. It can characterize power consumption at up to 100 locations with more than 99% accuracy, and can also be used underground.

Under the new service program, Awesense will partner with utilities and grid operators to design, implement, and manage power loss initiatives and reductions. The company will be compensated on a basis of a percentage of verified and recovered power revenue for the utilities or through a fixed amount of fee.