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
AwardsThe 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
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