ORBCOMM's Smart Grid Monitoring Solution Receives 2020 IoT Innovator Award From Compass Intelligence
ORBCOMM Inc. (Nasdaq: ORBC) has been awarded the 2020 IoT Innovator Award in the “IoT for Good” category by Compass Intelligence. This recognition highlights ORBCOMM’s Smart Grid solution, which enables utilities to improve electricity distribution and prevent outages through reliable satellite connectivity. The solution was notably utilized by CERFOX in Brazil during a severe cyclone, ensuring uninterrupted energy provision despite extensive damage. This acknowledgment underscores ORBCOMM's commitment to sustainability and enhancing operational efficiency in the utilities sector.
- Awarded 2020 IoT Innovator Award for Smart Grid solution.
- Smart Grid solution enhances reliability of electricity distribution.
- Successful implementation during a cyclone in Brazil, demonstrating effectiveness.
- None.
Recognized in “IoT for Good” category for helping utility companies affordably and reliably extend their communications network to improve electricity distribution and prevent outages
ROCHELLE PARK, N.J., Nov. 04, 2020 (GLOBE NEWSWIRE) -- ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Internet of Things (IoT) solutions, today announced that its Smart Grid monitoring solution has received a 2020 IoT Innovator Award from Compass Intelligence, a boutique market research and advisory firm providing market intelligence and consulting services to companies around the globe. ORBCOMM was recognized in the “IoT for Good” category, which includes innovative solutions that address global sustainability, energy and utilities conservation, environmental protection, emissions reduction, and other solutions that impact the globe, the planet and precious resources.
ORBCOMM’s Smart Grid solution monitors and controls utilities equipment and infrastructure, such as reclosers, fault indicators, voltage regulators and capacitor banks, around the clock, enabling electricity distribution companies to remotely manage operations. By leveraging ORBCOMM’s ubiquitous, two-way satellite connectivity as a primary or backup communications system, customers can improve the reliability and availability of near-real-time field data, especially in areas where cellular coverage is limited, unstable or non-existent, such as in the event of a natural disaster. If there is an issue, ORBCOMM’s system alerts the control center, helping customers quickly identify faults in electricity distribution networks, isolate specific sections of the network or trip a recloser to minimize the impact of unplanned outages. Customers can also ping the device to get information such as voltage, power factor, current and more, to ensure efficient and continuous distribution of electricity.
CERFOX, a Brazilian energy company, recently used ORBCOMM’s Smart Grid solution to ensure continuous energy provision when a powerful cyclone hit the southern states of Brazil in June 2020. Now considered the biggest wind disaster in the country’s recent history, the extreme weather caused the region’s electrical grid to collapse, and some areas went for days without power. CERFOX relied on ORBCOMM’s continuous satellite connectivity and powerful IoT technology to ensure remote communications were still available despite damage from pole breaks, conductor ruptures and falling trees and never experienced instability in their recloser system. Throughout the storm, ORBCOMM’s satellite terminals, which were strategically installed in remote areas with no signal availability or regions with a large concentration of consumers, continued to operate effectively and were crucial in helping CERFOX quickly identify failures in the electrical grid, maneuver service teams and restore the electrical network.
“We’re pleased to be recognized by Compass Intelligence for developing a leading-edge Smart Grid solution that utilizes satellite IoT technology to support energy and utilities conservation around the world, which is integral to ORBCOMM’s corporate social responsibility mission,” said Craig Malone, ORBCOMM’s Executive Vice President of Product Development. “ORBCOMM’s Smart Grid monitoring solution is designed to give utility operators the visibility they need to monitor, manage and improve the quality of electricity supplied, while decreasing power usage, system overloads and power outages. CERFOX is an excellent example of ORBCOMM’s smart IoT solutions in action and demonstrates the high level of reliability and performance of our satellite communications despite the challenges of an extreme weather event.”
“The global pandemic has not slowed adoption of IoT, and in fact has accelerated projects around automation and remote operation,” says Stephanie Atkinson, CEO of Compass Intelligence. “The IoT Innovator Awards program builds on existing research, market studies, custom advisory and insight reports made available on CompassIntel.com. We congratulate the 26 innovative companies and organizations who demonstrate new products/solutions, processes and methods that support IoT growth.”
For more information about ORBCOMM’s Smart Grid solution and how it improves data reliability and availability in utilities infrastructure, please visit https://www2.orbcomm.com/smart-grid-wp.
About ORBCOMM Inc.
ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government. For more information, visit www.orbcomm.com.
About The CompassIntel IoT Innovator Awards
The 3rd Annual CompassIntel IoT Innovator Awards honors companies and vendors demonstrating innovation in Internet of Things solutions, products, applications, and technology. Compass Intelligence has been recognizing companies for more than 8 years, after initially launching the A-List in M2M Awards back in 2012. The Innovator award categories run across 21 IoT innovation categories. In addition, Compass Intelligence also recognizes startups, stand-out products, and emerging and established IoT companies annually that have made an impact to the market and demonstrate superior innovation to elevate IoT.
Forward-Looking Statements
Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.
| ORBCOMM Contacts | ||
| For Investors: | For Trade Media: | |
| Aly Bonilla, VP of Investor Relations | Sue Rutherford, VP of Marketing | |
| +1 703.433.6360 | +1 613.254.5269 | |
| bonilla.aly@orbcomm.com | rutherford.sue@orbcomm.com | |
| investorrelations@orbcomm.com | mediarelations@orbcomm.com | |
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/748e3038-8a24-4d89-9dc0-6065d464761f
