mPrest and Vector, New Zealand's Largest Power Utility, Sign Contract to Bring “Internet of Energy” to Over a Million Customers
mPrest will integrate, manage and synchronize distributed energy resources (DERs) for Vector’s intelligent grid
PETACH TIKWA, Israel--(BUSINESS WIRE)--mPrest, a global provider of mission-critical ‘Internet of Energy’ software, today announced that its Distributed Energy Resource Management product – mDERMS, will be deployed in Vector's intelligent grid. Vector is New Zealand’s leading multi-network infrastructure company, which distributes energy and communication services to over 1.2 million homes and businesses. mDERMS will enable Vector to improve operational efficiencies and in time, offer new services to its customers such as: home energy optimization, choice of clean energy, grid contribution and energy trading.
“This project represents a new level of software control for the power utility sector,” said mPrest Chief Commercial Officer Ron Halpern. “mPrest will bring all of Vector’s distributed energy resources (DERs) together, yielding a single situational overview while providing maximal utilization of these distributed resources. This new level of control will allow Vector to make progress towards its goal of expanding access to participative energy markets for its customers, save CAPEX and OPEX in developing its digital power grid, and improve services and create new offerings to its customers.”
The mDERMS platform will unify Vector’s varied energy resources including solar photovoltaic systems, next generation storage and demand response onto a single distributed command and control system. mPrest will also integrate Vector’s internal operations platforms, including GIS, distribution automation and asset health management onto a single information technology (IT) and operational technology (OT) integrated system for control and maximum efficiency, cost and risk reduction for Vector, while increasing choice and reducing energy bills for its customers.
Vector Chief Executive Simon Mackenzie said the company is focused on creating a new energy future for its customers and the mDERMS platform is another step toward that.
“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,” Mr Mackenzie said.
“You can think of it as a system of systems. The software sits over customer, market, 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.”
With the evolution of the smart home creating new opportunities for intelligent energy use, customers are expecting more choice from their providers and the capability to have more control over the way they store and use energy. With the help of the new mDERMS platform, Vector is democratizing the smart grid by making energy generation and even participation in energy markets accessible to all its customers.
“mPrest’s revolutionary software increases a utility’s efficiency, productivity and response times. Our products create significant advantages and differentiators for our customers and we look forward to building this bright new energy future together with Vector,” said mPrest Chief Executive Officer Natan Barak.
mPrest is a global provider of mission-critical monitoring, control and big data 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 defense. 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. In the defense sector, mPrest is the software provider for the legendary Iron Dome anti-missile system. mPrest’s leadership in the “Internet of Energy” recently received further confirmation with the announced partnership with the New York Power Authority (NYPA) where mPrest is being used to manage transformer asset health throughout the grid. For more information on mPrest, visit www.mprest.com.
About Vector Limited
Vector is New Zealand’s leading multi-network infrastructure company which delivers energy and communication services to more than one million homes and businesses. The company owns and manages a unique portfolio which consists of electricity and gas distribution, electricity and gas metering and data management services, natural gas and LPG and fibre optic networks. Vector is listed on the New Zealand Stock Exchange with ticker symbol VCT. For further information, visit www.vector.co.nz.
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