For the next era of smart utility management, Honeywell Forge Performance+ For Utilities taps SparkMeter's integrated digitalization solutions to improve operations and decarbonize grids
WASHINGTON, June 3, 2024 /PRNewswire/ -- SparkMeter, a provider of grid management services, equipment, and software solutions that increase access to reliable electricity across global markets, announced today that it will be supporting Honeywell's groundbreaking new platform, Honeywell Forge Performance+ For Utilities. As one of the largest utility digital solution providers in the world, Honeywell is leveraging SparkMeter's modern industrial IoT technology as part of their cloud-based platform to help utilities improve their operations and enhance performance of existing utility grid assets.
Estimates show that appropriate grid modernization efforts to update the aging US infrastructure may cost billions, even trillions, in the coming decades. Even with recent federal incentives and regulations aimed at strengthening grid resilience and reliability, near-term solutions are needed to augment existing infrastructure and provide utilities with insights and visibility to improve overall energy resilience and enable integration for solar panels, wind turbines, energy storage systems and electric vehicles.
Incorporating AI, machine learning and digital twin capabilities, SparkMeter's data engineering platform, Praxis, enables Honeywell's Forge Performance+ For Utilities to deliver real-time insights and visualizations for grid health indicators. Those insights are powered by SparkMeter's groundbreaking apps – GridScan and GridFin – which pull data from utility GIS, AMI, and other systems to provide never-before-seen insights into the operational and financial health of the grid. In partnership with SparkMeter, Honeywell's newest offering digitalizes grid data into actionable insights, increases internal operational efficiency and assists in identifying overloaded assets and power quality issues for its utility customers in the US, which include SECO Energy.
"Partnering with SparkMeter to offer near real-time grid analytics translates into even better value for Honeywell's utility customers. We are better positioned than ever to help utilities deliver operational reliability, energy supply resiliency, and more – and best of all, we're able to do that by leveraging existing utility assets and data," said Hamed Heyhat, President of Honeywell Smart Energy and Thermal Solutions (SETS).
SparkMeter currently operates in more than 25 countries worldwide with plug-and-play grid management technology solutions customized to address the needs of utilities in all markets. This platform collaboration comes on the heels of Honeywell's strategic $5 million investment and partnership with SparkMeter in November 2023, which aims to bring smart grids across the United States and Africa.
"Our domestic power grids are facing a reckoning, and the need to modernize and digitalize our existing assets is crucial to protect our national energy infrastructure," said Dan Schnitzer, CEO of SparkMeter. "We're honored to partner with Honeywell to help utilities protect and future-proof their operations and assets for decades to come."
About SparkMeter
Founded in 2013, SparkMeter provides grid-management solutions tailored to emerging markets, where 2.1 billion people live without reliable electricity access. Its simple plug-and-play solution enables microgrids and distribution utilities operating in remote locations to access a range of features – flexible billing, customer communications, and remote monitoring and control – that improve their operations and help them achieve financial sustainability.
SOURCE SparkMeter