Palantir Providing Technology to Enhance Safety and Reliability of Electric Grid in California
January 19 2021 - 6:30AM
Business Wire
Palantir Technologies (NYSE:PLTR) is providing California’s
largest investor-owned utility with technology to help it
streamline data management across the company to improve its
electric operations and asset management, resulting in enhanced
electric system safety and grid reliability.
Pacific Gas and Electric Company (PG&E) has initiated
deployment of Palantir’s Foundry software to provide a single,
integrated platform to give decision-makers a real-time, complete
operational picture.
The use of this novel technology, in its early stages of
deployment, has already enabled PG&E to make effective, timely,
data-driven decisions related to its Public Safety Power Shutoff
program and is intended to further inform its wildfire risk
mitigation programs and initiatives in the future.
“Our engagement with California’s largest investor-owned utility
underlines our commitment to increasing safety and reliability for
customers and communities across the region,” said Olivier Farache,
Palantir’s Head of Utility Sector and Senior Advisor to the CEO.
“It shows our Foundry software can power data-driven decisions that
aim to improve service delivery.”
This multi-year, multi-million-dollar contract marks the first
time Palantir’s Foundry software is being used by a major U.S.
utility’s operations. In the future, plans for Foundry include
expanding to inform asset risk and outage investigation, eventually
bringing in data from all aspects of the company’s operations to
enable enterprise analytics and process improvement.
About Palantir Technologies Inc.
Palantir Technologies is a software company that builds
enterprise data platforms for use by organizations with complex and
sensitive data environments. From building safer cars and planes,
to discovering new drugs and combating terrorism, Palantir helps
customers across the public, private, and nonprofit sectors
transform the way they use their data. Additional information is
available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may relate to, but are not limited to,
Palantir’s expectations regarding the amount and the terms of the
contract and the expected benefits of its software platforms.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Forward-looking statements are based on information available at
the time those statements are made and were based on current
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as of that time with respect to future events. These statements are
subject to risks and uncertainties, many of which involve factors
or circumstances that are beyond our control. These risks and
uncertainties include our ability to meet the unique needs of our
customer; the failure of our platforms to satisfy our customer or
perform as desired; the frequency or severity of any software and
implementation errors; our platforms’ reliability; and our
customer’s ability to modify or terminate the contract or
partnership. Additional information regarding these and other risks
and uncertainties is included in the filings we make with the
Securities and Exchange Commission from time to time. Except as
required by law, we do not undertake any obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future developments, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210119005164/en/
Lisa Gordon media@palantir.com
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