Business

High-tech startup company wins $40,000

An Okanagan technology start-up, Awesense Wireless, has been declared the winner of the BCIC-New Ventures Competition’s $40,000 BC Hydro Sustainability Prize for its mobile wireless smart sensors that help identify key areas of electrical loss.

The announcement was made at the BCIC-New Ventures Competition’s 11th annual awards ceremony which took place at SFU’s Segal Graduate School of Business in Vancouver on  Sept. 22.

In total, almost $400,000 in prizes were awarded.

An Accelerate Okanagan technology company member and mentor program participant, Awesense Wireless is a Kelowna-based developer of wireless technologies that help utilities reduce energy loss and increase profits with its line measurement sensors.

The company’s breakthrough smart grid technology uses an easy to deploy line measurement platform.

A significant amount of energy is lost in the distribution of electrical energy due to out-of-date infrastructure and non-commercial losses, such as power theft.

This results is a profit loss for the utility, which directly affects the rates that consumers pay.

On average, a utility has avoidable losses of $3 million per 100,000 homes.

In total, North American utilities lose more than $10 billion in annual revenue due to inefficiency and electrical power theft.

The Awesense system consists of mobile wireless smart sensors that can be quickly deployed within the distribution grid to help identify key areas of electrical loss.

This information is passed on to the Awesense senseNET software suite for post processing, where an analytics engine helps utility managers and engineers make the right decisions about mitigating losses and increasing grid efficiency.

Awesense was one of just seven B.C. clean technology companies invited recently to present its breakthrough wireless sensor system at the Northern Cleantech Showcase in Silicon Valley.

The special invitation-only event showcased jury-selected companies that were deemed “most fundable” to Silicon Valley investors.

Awesense CEO Mischa Steiner-Jovic said: “We are absolutely thrilled to receive this recognition for our innovative technology, which represents an order of magnitude improvement over current methods for detection and elimination of energy loss.”

 

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