AUSTIN, Texas--(BUSINESS WIRE)--Olea Edge Analytics, an intelligent edge computing platform for the water utility industry, today announced the launch of CityEdge, a combination of blockchain technology, AI and machine learning that unlocks much-needed revenue for cash-strapped cities.
Municipal officials face huge deficits brought on by the COVID-19 pandemic, and there are limited options to close the revenue gap. However, one of those options comes from a surprising source: repairing broken or malfunctioning commercial water meters.
CityEdge notifies customers of water infrastructure issues more quickly than current crews can find them, allowing utilities to fix them fast and recover lost revenue. Best of all, the money identified and recovered by CityEdge can be repurposed to any city project immediately, bypassing the prolonged search for funding that slows most major initiatives.
“People are surprised to learn that they can make these simple repairs and turn that money into a catalyst for much-needed projects,” Olea Edge Analytics CEO Dave Mackie said. “Everyone is looking for an edge in funding, especially during these economic times. This platform gives them exactly that.”
Water bills are one of the few significant ways that cities make money. Airports, taxes and special events are a few of the other types of revenue generators; however, water bills can generate revenue right away, assuming that the system is working correctly.
Olea Edge Analytics’ history with numerous utilities shows that up to 40% of all high-volume commercial water meters can be underbilled and need repair. And under normal conditions, commercial water meters can lose accuracy by more than 10% per year.
The patented blockchain architecture within CityEdge validates water usage data from the moment that it leaves the meter’s sensors to the moment it reaches the customer. The encrypted data in the blockchain ledger is also distributed across every device in the network, making it more secure and traceable than ever before.
The platform also creates a digital twin—a virtual replica of a physical product or system—of every meter on the network. A full suite of sensors monitors and provides advanced analytics for each component in the system.
To learn more about CityEdge, visit oleanetworks.com.
About Olea Edge Analytics
Olea's proven technology empowers utilities to optimize water delivery, billing and conservation so cities can generate millions more in revenue. Committed to helping water utilities combat aging infrastructure, meet greater demand and limit rate increases, Olea's patented solution combines IoT and edge computing capabilities to bring transparency, accuracy and reliability to the delivery of the world’s most precious resource. For more information, visit www.oleanetworks.com.