Vancouver-based Awesense is tackling a $100 billion/year problem – losses from electrical distribution grids due to theft, errors and inefficiency. Combining the latest trends in big data, Internet of Things (IoT) and AI technologies, Awesense helps utility companies make most efficient use of their electrical distribution grid.
Awesense counts BC Hydro among its customers, recently won the GE Innovation Award and was named to the prestigious 2018 Global Cleantech 100. They got their start at Wavefront.
Founder Mischa Steiner credits startup support from Wavefront for creating a solid foundation for success. He took part in several Wavefront programs that helped him launch his business. In the early days, Awesense was located in Wavefront’s co-working space in downtown Vancouver.
“The coaching and connections I got from Wavefront helped us bring our product to market much faster than if we went it alone,” explains Steiner.
Gaining Traction – and International Recognition
A milestone deal took place in 2016, when BC Hydro installed 4,000 Awesense sensors on overhead power lines to assist in detection of power theft.
In January 2018, Awesense was named to the prestigious 2018 Global Cleantech 100, produced by CTG (Cleantech Group). The Global Cleantech 100 represents the most innovative and promising ideas impacting the future of a wide range of industries, according to players in the market. Featuring companies that are best positioned to solve tomorrow’s clean technology challenges, Global Cleantech 100 is a comprehensive list of private companies with the highest potential today to make significant market impact within a 5-10-year timeframe.
In addition to being one of the top 100 private companies in cleantech, Awesense was also the recipient of the “GE Innovation Award”, sponsored by GE Ventures. The GE Innovation Award is awarded to the company that best represents GE’s innovation themes in advancing smart power.
Today, Awesense employs 130 people in their Vancouver office.
“I feel as though the possibilities are endless, and we’re just getting started on the possibilities on the grid of tomorrow,” says Mischa Steiner, CEO.