Axia Software Corporation

November 05, 2007 12:19 ET

Axia Software Corporation Announces First North American Deployment of New Reveal™ Asset Management Software at Toronto Hydro-Electric System Limited

TORONTO, ONTARIO--(Marketwire - Nov. 5, 2007) -


AXIA SOFTWARE CORPORATION today announced that it has begun the first deployment in North America of its new REVEAL™ asset management software at one of Canada's largest electricity distribution companies - Toronto Hydro-Electric System Limited.

Designed to help infrastructure-intense industries such as power, oil and gas companies make informed decisions about the performance, reliability and security of their core infrastructure assets, including managing replacement schedules, capital expenditures and business transformation, REVEAL™ is the first software to bridge the information gap that oftentimes hampers corporate decision-making.

"REVEAL™ is the first product of its kind in the world," said Axia President and Chief Executive Officer, Graham Carter. "It provides corporate executives with an objective and systematic tool that ties asset management directly to corporate goals, and it also provides engineering staff with a tool that helps to plan and bring forward asset management recommendations based on those same goals."

The first electricity company in North America to conduct a full trial of Axia's new software is Toronto Hydro-Electric System Limited, which serves over 678,000 electricity distribution customers in Canada's largest city. "We are still in the early stages of an off-site installation," said Robert Wong, Vice-President, Business Transformation, Toronto Hydro-Electric System Limited. "Our first goal is for REVEAL™ to help us to identify a common methodology that can be used across our entire system so that when we make asset management decisions, and ultimately financial decisions, we are always comparing apples to apples. If the trial is successful, this software could become a critical part of our capital planning process."

According to Mr. Carter, asset management is a booming business and REVEAL™ is poised to make strong in-roads. "Our analysis of the international power industry indicates that the market for asset management will grow from $1 billion this year to more than $20 billion in 2011. Electrical grid infrastructures are aging, particularly in North America, and executives are being challenged to make significant capital investment decisions that balance grid reliability and security with shareholder returns," said Mr. Carter. "We understand that challenge intimately, having met with many of the world's biggest power companies. They consistently state that they are being asked to do more with less and that they're looking for a solution that enables them to achieve the goals set by the regulators and shareholders in complex environments. We are confident that REVEAL™ responds to that need."

About Axia Software Corporation

Axia Software Corporation is a privately-held company that specializes in the development of intelligent asset management software, including REVEAL™, for infrastructure-intense industries in the global electricity, oil and gas sectors. Axia is headquartered in Vancouver and has two regional offices in Toronto (Canada) and Sydney (Australia).

About Toronto Hydro-Electric System Limited

A wholly-owned subsidiary of Toronto Hydro Corporation, Toronto Hydro-Electric System Limited delivers electricity through a complex network of poles, wires and underground structures to 678,000 customers and distributes approximately 18 per cent of the electricity in the province of Ontario. Toronto Hydro Corporation is fully owned by the City of Toronto.

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