LOS ANGELES, Jan. 25, 2022 /PRNewswire/ -- Electrical Grid Monitoring (EGM) Ltd. (www.egm.net) parent company of Electrical Grid Monitoring (EGM), Inc. (www.egm.energy) in the United States are both pleased to announce the $1M investment from Israel Electric Corporation (IEC) in a joint strategic alliance. This announcement, was followed by close cooperation between IEC and EGM in the past few years, including installation and testing of EGM technology and products.The alliance was signed after EGM successfully completed the extensive study that included modeling, simulation and benefits analysis in the GCxN (Shell Game Changer Accelerator™ Powered by NREL), program. EGM participated in this first cohort of companies selected for GCxN and was acknowledged as the global trailblazer in the utility power industry.
This strategic agreement is a stamp of approval for all EGM utility monitoring technology & products throughout the US.
Mr. Amir Cohen, EGM Founder, said, "It is a great honor for us to partner with IEC in upgrading electricity supply, its availability and quality for IEC's customers, through the grid monitoring and analytical capabilities of EGM."
Dr. Alex Levran, CEO of EGM, Inc. reported, "This strategic agreement is a stamp of approval for all EGM monitoring technology and products throughout the United States." Levran stated, "The partnership with IEC, and other utilities globally, will allow us to introduce more innovative, grid modernization products for smart cities in the near future."
Based on its experience with the EGM Meta-Alert™ system, IEC concluded that EGM monitoring hardware and software improves the reliability of the grid. It provides early indications for grid failures, reduces the frequency and duration of power failures, prepares the grid in Israel for future integration of large-scale renewable power plants, and provides an addition of storage -as highly anticipated- for the growth of electrical vehicle (EV) chargers and charging stations.
Israel Electric Corporation (IEC) is the largest supplier of electrical power in Israel. The IEC builds, maintains, and operates power generation stations, sub-stations, as well as transmission and distribution networks. The company is the sole integrated electric utility in the State of Israel. For more information, please visit www.iec.co.il.
Electrical Grid Monitoring (EGM) Ltd.(www.egm.net) is the leading technology company with innovative T&D grid monitoring products that include sensing, communication, and analytics. Meta-Alert™ the EGM Monitoring System, delivers useful information to manage both overhead and underground utility grids. The Company is headquartered in Israel with its U.S. based subsidiary centered in Los Angeles, California. For more information, please visit www.egm.energy.
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SOURCE Electrical Grid Monitoring