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Vector Invests in World Leading Internet of Energy Software

May 29, 2017 2:33 pm Published by Leave your thoughts

Vector has secured exclusive Australasian rights to world leading Internet of Energy (IoE) technology. It enables unprecedented options to integrate and develop new energy solutions for customers and the management of multiple technologies on the company’s networks.

Powered by artificial intelligence, the product technology was developed by Israel based mPrest, a global provider of monitoring, control and big data analytics software for the IoE. With the evolution of many new energy technologies, Vector is one of the best positioned providers in the world to enable customers to generate, store and manage energy use in their homes and businesses.

Vector Chief Executive, Simon Mackenzie, said as the number of new energy technologies being made available to customers continues to grow, the addition of the mPrest system takes the development of customer solutions and network management to a completely new level.

“Simply put, this mPrest software is revolutionary,” Mr Mackenzie said.

“It is the most comprehensive monitoring, analytical and control system available anywhere in the world. We have worked with mPrest to trial it and we are now moving to full implementation. In addition, we will jointly develop the system not only for our customers but others.

“You can think of it as a system of systems. The software sits over customer, market, distributed energy resources and network systems managing performance in real time. Through self-learning, it is able to assess and predict multiple factors including loads, market dynamics, storage, customer demand and capacity. This greatly enhances the resilience, security and efficiency of customer solutions and our network.”

mPrest Chief Executive, Natan Barak said the system aligns with Vector’s vision of ‘creating a new energy future’ for its customers.

“Vector customers will see innovative solutions whilst these are co-ordinated in a complex system. The company will be better able to assist customers capitalise on new energy technologies and optimize the energy use in their home or business,” Mr Barak said.

“Our products create significant advantages and differentiators for our customers.”

The project was initiated after a New Zealand Innovation Mission to Israel last year and follows Vector’s recent acquisition of ECo Products (HRV) and PowerSmart to help deliver its energy transformation strategy.

ENDS

Media queries: Melanie Tuala 021 518 459

About Vector

Vector is New Zealand’s leading multi-network infrastructure company which delivers energy and communication services to more than one million homes and businesses across the country. Vector is listed on the New Zealand Stock Exchange with ticker symbol VCT. Our majority shareholder, with voting rights of 75.4%, is Entrust (formerly Auckland Energy Consumer Trust).

For further information, visit www.vector.co.nz

About mPrest

mPrest is a global provider of mission-critical monitoring, control and analytics software. Leveraging vast field-proven Industrial IoT experience, mPrest’s integrative system of systems is deployed in diverse sectors including utilities, critical infrastructure protection and defence. mPrest excels at connecting the dots across multiple disciplines and departments – delivering unified situational awareness, sophisticated analytics, and end to end IT/OT integration and process management.

Through unprecedented interoperability and real-time data optimization, organizations can substantially increase asset performance while reducing operational costs. In addition, mPrest applications help organizations worldwide to better manage their security, asset health, mobile assets, distributed energy resources, smart cities and more.

For more information on mPrest, visit www.mprest.com