BURNABY, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2013) - Power Measurement Ltd. today announced that it has secured $1.7 million in funding from Sustainable Development Technology Canada (SDTC) to demonstrate the smart controllers it has developed for electrical substations. It will provide customers with the real-time ability to change the source of electricity between the grid, distributed generation or storage options.
Electricity grids are seeing larger conventional and new demands such as the growing use of electric vehicles. To meet these challenges, grid operators are adjusting to the need of incorporating distributed generation, which risks producing damaging power surges. Power Measurement Ltd.'s Smart Controller for Electrical Substations (SCES) will provide the real-time ability to switch the source of electricity between the grid, distributed generation or storage. Power Measurement will implement local load management methods such as staggering EV charging off peak ("smart charging").
"Our Government is doing its part to encourage innovation and the next wave of clean technologies to help protect our environment and create high-quality jobs," said the Honourable Joe Oliver, Canada's Minister of Natural Resources. "Investment in projects such as these demonstrates our leadership in driving a vibrant clean technology industry in Canada."
"Power Measurement Ltd. is pleased to be awarded this funding by SDTC to develop its Smart Controller for Electrical Substations (SCES), a device that will provide the real-time ability to switch the source of electricity between the grid, distributed generation or storage," said Power Measurement Ltd., Director of Operations Geoff Hyatt.
"SDTC is proud to add this project to its portfolio, now valued at more than $2 billion. When purchased and used by Canadian industry, the clean technologies developed by portfolio companies will enable a variety of sectors to increase their share of global markets," said Dr. Vicky Sharpe, President and CEO of SDTC. "As Canada works to diversify its export markets, working with new trading partners in emerging countries, these innovative technologies will help make Canadian natural resources and products more globally attractive and competitive."
Used effectively, an SCES will be able to increase the total capacity of a substation by 30 percent without the need to increase peak capacity. The cost of upgrading a typical existing substation using an SCES is 15 to 54% of the cost of increasing capacity by conventional means. BC Hydro estimates this technology could allow them to defer further substation upgrades by 10 years. Global deployment of SCESs will reduce GHGs by 1800 kt CO2e/yr and reduce global NOx and SO2 emissions by 1.5 and 1.8 kt/yr respectively by 2022.
Power Measurement Ltd. is working with the BC Institute of Technology (BCIT) and BC Hydro on developing this technology. Power Measurement Ltd.'s funding was a part of a $61.8 million investment from the Government of Canada to support 23 clean technology projects across Canada.
About Power Measurement Ltd.
Power Measurement Ltd.(PML) develops power meters and energy management solutions. Located on Vancouver Island PML products are installed globally and are used by the major industrial customers such as Ford and large government institutions such as the US General Services and Administration helping them reduce their green house gas emissions by making the best use of their energy.
On behalf of the Government of Canada, Sustainable Development Technology Canada helps commercialize Canadian clean technologies, readying them for growth and export markets. With a portfolio of companies under management valued at more than $2 billion, SDTC is positioning cleantech as a driver of jobs, productivity and economic prosperity.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $590 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC works with the private sector, the financial sector and all levels of government to meet the Government of Canada's commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates as a not-for-profit corporation.