REDWOOD CITY, Calif.--(BUSINESS WIRE)--C3 Energy, the leader in enterprise analytic software solutions for the global energy industry, today announced that its C3 Predictive Maintenance cloud-based software application has been recognized in the 2015 Fierce Innovation Awards.
C3 Predictive Maintenance received top honors based on its unique ability to help utilities accurately prioritize and optimize network asset management through advanced, cost effective technologies such as cloud computing, big data analytics, and machine learning. Through improved reliability and decreased maintenance costs, C3 Predictive Maintenance delivers an estimated recurring annual economic benefit of $20 per meter to a utility and its customers. Utility deployments of C3 Predictive Maintenance at scale today are addressing more than 15,000 distribution feeders and 230,000 secondary substations, serving approximately 15 million customers.
An elite panel of judges composed of energy industry experts from Ameren Corporation, CenterPoint Energy, Commonwealth Edison, Duke Energy, Iberdrola USA, PECO, and San Diego Gas & Electric, evaluated solutions based on technology innovation, financial impact, market validation, compatibility with existing network environments, end-user customer experience, and overall level of innovation.
“Utilities are under increasing pressure to improve grid reliability while decreasing operating costs. Shifting from reactive to predictive maintenance can mitigate the risks and expenses associated with asset failure and emergency replacements,” said Ed Abbo, president and CTO of C3 Energy. “C3 Predictive Maintenance enables utilities – as well as power generators, oil and gas companies, and, really, any organization with industrial equipment requiring continuous monitoring and regular maintenance – to understand and assess system risk and reliability in near-real time, identify high-risk assets before they fail, reduce unexpected capital and operating expenditures, and reduce unplanned outages.”
C3 Predictive Maintenance uses scalable cloud computing to apply advanced machine learning algorithms to provide utility operators with diagnostic and planning tools that optimize power generation and transmission and distribution (T&D) system maintenance and management decisions. The software application advances traditional asset monitoring and response by continuously analyzing all available sensor data from advanced metering infrastructure (AMI), real-time operational input from SCADA systems, and other wide-area measurement (WAM) sensors, including high-frequency data from phasor measurement units (PMUs). In addition, C3 Predictive Maintenance correlates and analyzes detailed operation, lifecycle, and maintenance history, reconstructs the state of the as-operated network at any given point in time, and tracks dynamic asset and system health scores across asset classes and on individual assets.
By deploying C3 Predictive Maintenance, utilities can:
- Evaluate the impact of high-risk assets and networks on critical customers, service reliability, and utility revenue goals, and create maintenance work orders to mitigate unplanned outage risk;
- Proactively assess real-time asset health and maintenance expense projections in order to reduce unexpected capital expenditures;
- Analyze assets by class and configure asset risk scores at granular levels across the network hierarchy, including region, transmission component, substation, feeder, transformer, and meter;
- Evaluate asset health trends and benchmark assets within classes, over varying time intervals and across regions, substations, circuits, and individual assets; and
- Continuously monitor asset utilization to identify under-utilized assets, resulting in more effective capital investment planning.
About C3 Energy
C3 Energy enables energy companies to realize the full benefit of their IoT and system investments. C3 Energy applies the power of big data, advanced analytics, social networking, machine learning, and cloud computing to improve the safety, reliability, and efficiency of power generation and delivery. It is transforming the energy value chain with a family of tested and proven SaaS applications built upon C3 CyberPhysix™, its comprehensive design, development, provisioning, and operating platform for deploying industrial-scale cyber physical applications for the energy industry. C3 Energy delivers end-to-end solutions across the power and oil and gas value chains. We make the Internet of Energy a reality. Learn more at www.C3energy.com.