BOSTON--(BUSINESS WIRE)--Sapient Global Markets, a division of Sapient (NASDAQ: SAPE), today announced a partnership with Tres Amigas LLC., a merchant transmission entity and developer of the Tres Amigas SuperStation (TA SuperStation). The partnership will lead to the development and sale of software technology required to control the TA SuperStation and other HVDC transmission projects. Working together with Tres Amigas, Sapient Global Markets will help companies with the implementation of software solutions needed to service modern HVDC systems for converting and connecting unsynchronized Alternating Current (AC) grids with different power levels and frequencies.
Incorporated in May 2009, Tres Amigas is planning a new power SuperStation connecting the three asynchronous power grids in the U.S. for the first time. This landmark hub, located in Curry County, New Mexico, gives the opportunity for power producers to transmit their products (including wind and solar energies) throughout the country and increase the stability of the three grids. The TA SuperStation will employ the latest developments in power grid technologies, including voltage source converters, batteries and energy systems.
Sapient Global Markets and Tres Amigas will develop the software required to control the SuperStation hardware and to provide auxiliary services that support and complement the software package, including the transmission of modern HVDC. HVDC systems can transmit up to three times more megawatts across the same pylons and wires as AC systems and represent the technology of choice for bulk transmission over long distances.
“We have chosen to partner with Sapient Global Markets because of their deep expertise in the commodity and energy markets and their understanding of the operating environment and underlying technology and software issues,” said Phillip Harris, president and chief executive officer, Tres Amigas LLC. “The three U.S. grids, as well as national electric utility companies, will face huge cost entry barriers when they invest in the latest hardware HVDC infrastructure needed to remain competent and viable. Working with Sapient Global Markets we are able to provide multi-terminal HVDC solutions to help allay costs and enhance efficiencies.”
Utilizing the latest advances in power grid technology, Tres Amigas is focused on providing the first common interconnection of America's three power grids to help the country achieve its energy goals and facilitate the smooth, reliable and efficient transfer of power from region to region.
“The groundbreaking technology developed by Sapient Global Markets and Tres Amigas will help drive efficiencies and connections between the three U.S. power grids,” said Chip Register, Head of Sapient Global Markets. “Not only will these new solutions and software backbone help global companies utilize the interconnection of the power grids, we can also assist all global utilities in taking advantage of the latest HVDC infrastructure.”
Sapient Global Markets and Tres Amigas will license its software to the three U.S. power grids, global utilities, transmission companies, commodities trading houses and any other company that engages in the generation, transmission and trading of energy.
About Tres Amigas, LLC
Tres Amigas, LLC is uniting the nation’s electric grid. Utilizing the latest advances in power grid technology, Tres Amigas is focused on providing the first common interconnection of America’s three power grids to help the country achieve its energy goals and facilitate the smooth, reliable and efficient transfer of power from region to region. Tres Amigas, LLC is a merchant transmission entity composed of electric utility industry operational, technology and thought leaders.
Based in Santa Fe, NM, Tres Amigas, LLC is a business venture backed by a number of prominent investors including American Superconductor, Mitsui & Co., Ltd., AltEnergy and Z-Global Engineering, and strategic partners including Pike Electric, Alstom, London Economics, Gibson, Dunn & Crutcher, Steptoe & Johnson, Sargent & Lundy, Burns & McDonnell and Power Engineers. More information is available at www.tresamigasllc.com.
About Sapient Global Markets
Sapient Global Markets, a division of Sapient® (NASDAQ: SAPE), is a leading provider of services to today’s evolving financial and commodity markets. We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Advisory, Analytics, Technology, and Process, as well as unique methodologies in program management, technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Calgary, Chicago, Dusseldorf, Frankfurt, Houston, London, Los Angeles, Milan, New York, Singapore, Washington D.C. and Zurich, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, Mumbai and Noida, India. For more information, visit www.sapientglobalmarkets.com.
Safe Harbor Statement
This press release contains forward-looking statements — in particular, those related to the development of software and related services and potential sales to clients — that involve a number of risks and uncertainties. All forward looking statements are based upon current expectations and beliefs and various assumptions. Actual results could differ materially from management's expectations and the forward-looking statements contained in this release. A number of factors could cause actual events to differ materially from those indicated, including, without limitation: a reduction in the demand for the company's services in light of the current or future economic environment; the company's ability to accurately set fees for and complete projects on a timely basis; the acceptance of the company's services; changes in Federal government spending priorities, and other risks and uncertainties as set forth in the company's filings with the SEC, including without limitation the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements for any reason, including to reflect events or circumstances after the date on which such statements are made or to reflect the occurrence of anticipated or unanticipated events or circumstances, except as required by law.
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