Awesense Set to Accelerate Business Growth (via Accelerate Okanagan)

Kelowna, B.C.Awesense Wireless Inc., a company that helps utilities identify and reduce energy losses by using their easy to deploy power line measurement system has recently secured private equity funding to accelerate business growth.

Awesense addresses the problem of the significant energy that is lost in the distribution of electrical energy due to system load issues and commercial losses including power theft and meter failures. Industry estimates place these avoidable losses at over $10B per year in North America. Reducing these losses directly impacts the costs passed onto consumers.  Awesense is dedicated to providing utilities with intuitive tools to reduce these losses. The Awesense hardware & software solution includes easily deployed portable line monitors that can be placed when and where needed to record power consumption and wirelessly communicate with each other and for data collection. Deployment, reporting and data management is all integrated using the Awesense senseNET software services.

Recent awards and recognition for Awesense include: BC Business Magazine, British Columbia’s Top 20 most innovative companies for 2012. Rocket Builders tenth annual “Ready to Rocket” list of British Columbia technology companies that are best positioned to capitalize on the 2012 technology sector trends that will lead them to faster growth than their peers.   At the recent GLOBE Conference in BC, Awesense was recognized by Premier Christy Clark for it’s work with Fortis BC to develop portable line-monitoring that has allowed Fortis to reach their goals for increasing grid efficiency, saving both time and money.  Awesense is also the winner of the BC Hydro Sustainability prize for its mobile wireless smart sensors system that help identify key areas of electrical loss.

Awesense Wireless CEO, Mischa Steiner-Jovic commented on the significance of the funding, “This is a major milestone in the continued growth of our company.  We are now well positioned to take our company to the next level and execute on our long term strategic vision.”  Steiner-Jovic went on to thank Accelerate Okanagan for their involvement stating, “Accelerate Okanagan was responsible for  facilitating the key introductions that led to this funding  and we would like to thank the team at AO for helping to make this happen and for their continued support of Awesense Wireless.”

Media Enquiries
Awesense Wireless Inc.
[email protected] | +1-604-259-2850

About Awesense
Awesense is dedicated to providing utilities with intuitive, affordable tools to reduce losses from power theft, meter malfunctions and transformer overloading. The Awesense hardware/software solution includes easily deployed portable line monitors that can be placed when and where needed, to record power consumption and wirelessly communicate to remote gateway receivers. Detection, reporting and data management, is automated using the Awesense senseNET software services. Awesense solutions are in use today, helping utilities recover over 100 million dollars every year and growing. Awesense is the worldwide market leader in systems focused on bypass detection and confirmation, and currently markets internationally on four continents.

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