Boston, MA, June 06, 2018 --(PR.com
)-- LineVision, Inc. today announced the completion of a spin-out from Genscape, Inc. and the successful closing of a Series A investment round. The LineVision business was incubated within Genscape and the technology was validated with several leading utility clients. Genscape, which serves energy wholesale market participants will retain a minority stake in LineVision and will continue to support the business as a supplier and strategic partner.
“LineVision’s mission is to deliver the industry’s leading transmission line monitoring, asset management and dynamic line rating solutions to utilities worldwide,” said CEO Hudson Gilmer. “There’s tremendous demand among utilities worldwide for our solutions and we’re thrilled to announce this transaction which positions us to support their needs with the strong backing of Genscape and our new investors.”
Proven & Unique Non-Contact Design
LineVision is built on over 15 years of non-contact transmission line sensor and analytics development by Genscape and Promethean Devices – a company acquired by Genscape in 2014. The core technology is a patented EMF monitor which has been proven on over 5,000 transmission lines worldwide. Unlike previous monitoring technologies which must be installed on conductors, LineVision’s non-contact solutions do not require scheduled outages, utility crews or bucket trucks – saving time and reducing OPEX costs.
“The installation with LineVision was so quick and painless,” said Jill Hailey, P.E., Electric Transmission Operations Engineer at Dominion Energy. “It amazed me how fast the monitors could be set up and an added bonus was not worrying about an outage on the line which is difficult to coordinate.”
LineVision’s V3 System
LineVision is today releasing their latest and third generation of Transmission Line Monitor – the V3 System. Like all LineVision systems, it features a non-contact design which can be mounted on the ground or the base of a transmission tower. Unlike previous LineVision monitors which solely utilized the patented EMF sensors, the V3 system adds an optical sensor for increased precision and deployment flexibility.
“The incorporation of the optical sensor to our V3 system significantly enhances our ability to measure conductor geometry in a wide range of conditions, including during outages,” said Nathan Pinney, PhD, LineVision’s CTO. “With more granular and accurate conductor data, we can better detect and alert our clients about anomalies such as icing, galloping and tower structural changes that threaten grid reliability and impact asset health.”
Serving a Large and Growing market
Utilities worldwide are investing heavily in sensor technologies across their transmission and distribution systems, and simultaneously investing in condition monitoring systems to leverage the sensor data to better operate and manage their assets. “The market for Transmission line monitoring and Dynamic Line Ratings are forecasted to grow at nearly 20% annually through 2026,” said Michael Hartnack, author of Navigant Research’s T&D Sensing and Measurement Market Overview. “LineVision is well positioned to benefit from these market trends, which are driven by the need of utilities worldwide to manage increasing renewable generation, improve reliability, and adopt enhanced condition-based asset management strategies.”