At the beginning of the year 2019 eSmart Systems announced a capital raise of 18 MUSD. Nysnø Climate Investments joined the investment round with a strong belief that eSmart Systems has a key role in the future energy industry.
We had the pleasure of talking with Siri Kalvig, CEO of Nysnø and Tina Skagen, COO of eSmart Systems, to learn more about their collaborative partnership, sustainability, and challenges and opportunities in the new energy paradigm.
Can you start by telling a bit about your company, what it does and what are you focusing on in particular at the moment?
Siri Kalvig: Nysnø Climate Investments (Nysnø) was established as a state-owned investment company in 2018. We invest in companies with profitable climate technologies. We focus on companies that are ready to scale into new markets and invest across several sectors including clean energy technologies, digital and enabling technologies, resource efficiency, sustainable demand and the circular economy. Our most recent investment is in a company called Saga Robotics who are developing an autonomous robot for several precision farming applications.
eSmart Systems deliver inspection services to power grid companies through collaborative AI. Its mission is to accelerate the transition to a digital future. What do you think it takes to succeed in that mission?
Tina Skagen: Dedication to the mission and our customers, a strong team and perseverance. It takes time to change work processes and the ways that things have always been done. Digitalization happens gradually all around us, and our value proposition to the power utilities is strong. We need to make sure we are there and ready to deliver when our customers are mature.
Nysnø’s goal is to make profitable, long-term investments that contribute to reducing greenhouse gas emissions. How does eSmart Systems fit with that strategy, and why did you invest in eSmart Systems?
Siri: Because of their unique technology that is ready for international expansion and backed by a highly talented and dedicated team. The combination of world leading AI competence and domain expertise in the energy utility space has resulted in a unique product offering. Producing more renewable energy and utilizing power grids optimally is critical for reducing greenhouse gas emissions. The eSmart software enables a robust and smart grid, capable of meeting challenges related to future global energy systems.
How do you give growth support to your investments, and eSmart Systems in particular?
Siri: We are a long-term investor with a strategy of following up our initial investments with further growth capital over time. We have an international network of specialized co-investors and corporates that are committed to accelerating the energy transition, as well as relationships with policy makers in the energy field. We actively work to position our portfolio companies in this ecosystem.
eSmart Systems has a clear value proposition and a unique opportunity to scale globally, and we are highly committed to support this growth through our network, which includes potential future co-investors, other financing providers, relevant policy makers, potential customers and key talent for recruitment. We also work actively with the company in relation to other funding schemes, such public soft funding and growth loans.
What makes Nysnø different to other investors, and can you provide some examples of growth support from Nysnø?
Tina: Nysnø has a crystal-clear focus on sustainability and the environment. Their focus and competencies on growth challenges and the business that eSmart Systems is in, are of great value to us. Nysnø has been a valuable partner especially when it comes to network, funding, and financials.
What role do you see eSmart Systems play in the future energy industry?
Siri: Because the energy systems are changing towards more intermittent renewables, eSmart Systems offers a crucial solution to enable this shift by providing tools to increase the robustness of the grid. A robust, smart, and agile power grid is the most important asset in an entirely renewable energy system – and we see that eSmart Systems has both the technology and business model to take utilities into this new energy paradigm.
Tina: eSmart Systems will undoubtedly play an important role in the operations of power grids in the future. Being able to inspect the grid remotely and autonomously, and to analyze and extract actionable insight from the data is the future for the utility business as well as for other industries. We have built a product that can take the power utilities into this future and give them value on their data.
Many utilities face major challenges and costs related to vegetation near power lines. In a research and development project supported by the Research Council of Norway, eSmart Systems has partnered up with utilities to develop an operational software solution for the assessment of vegetation and safety near power line spans.
Vegetation insight to prevent tree falls
The name of the project is “AI-based risk model for vegetation near power lines”. Its members are five utilities, the Norwegian Institute of Bioeconomy Research (NIBIO), and eSmart Systems. As a result of this project, the utilities are flying drones to collect data on growth conditions and vegetation.
We are finishing up the first, out of two rounds of data collection, and have collected thousands of images of power lines and the surrounding forest
With the data collected, the project will try to identify which trees have fallen from one year to another. Furthermore, it will identify which properties of the trees and their place of growth are predictive of tree falls.
We hope to help develop a system that can detect tree falls before they happen
Using AI to analyze data
eSmart Systems will use AI to analyze the data and identify the important properties of vegetation. After that, NIBIO uses the research to determine risk.
Our main input in this project is to develop a mathematical risk model for tree falls on power lines. In addition, we are providing basic inputs to the field and drone measurement protocol for the recording of important tree and forest property variables
By combining the probability of treefall with the consequences of it occurring at span level on the grid, the utilities can plan and prioritize the vegetation management more efficiently than with current practices while also reducing the number of outages.
Innovation to be at the forefront
The advantage of this project is that we can sit together and look at 3D images, get an overview of the area, and see which trees can pose a danger to the power lines
Evensen is positive about participating in research projects that can improve operations and help prevent power outages. The same goes for Irina Pirozhinskaia at Ringerikskraft who believes R&D projects are of great value.
We get the opportunity to work with R&D, increase the competence of the company, and work towards a more profitable operation
said Pirozhinskaia
At eSmart Systems, Research & Innovation (R&I) is a cornerstone of the company.
Our software is breaking new ground in the utility industry and we need to be at the forefront of understanding the market and all technology trends and possibilities. By cooperating with forward-leaning customer partners and reputable research institutes, eSmart Systems strives to gain the insight needed to be at the forefront of our industry
About
- Project title: AI-based risk model for vegetation near power lines
- Project goal: To develop an operational software solution for assessment of vegetation safety near power line spans, that utilities can use for prioritization and planning, based on local data on growth conditions and vegetation.
- Project Manager: eSmart Systems
- Partners: NIBIO (Norwegian Institute of Bioeconomy Research), Norgesnett AS, Valdres Energi Nett AS, Dalane Energi Nett AS, Ringerikskraft Nett AS, Gudbrandsdal Energi Nett AS
- Project period: 04-2020 to 06-2022
- Budget: 11 mill NOK
- Funding granted: 4.4 mill NOK
BKW Energie is among the speakers at the virtual conference “AI & ML for the Smart Grid 2020”, taking place on September 9th. The power production and distribution utility is one of eSmart Systems’ customers, and has its headquarters in Berne, Switzerland.
One of the speakers, Yamshid Farhat Quiñones, Data Scientist of Grid Analytics at BKW, has had a positive experience with using eSmart System’s cloud-based platform:
“In the talk, I will focus on in-house vs external artificial intelligence and machine learning solutions. With eSmart Systems Collaborative AI approach, we can shape and strengthen the AI with our expert’s classifications. We can also profit from the development done together by eSmart Systems with other utilities to streamline the development of the AI,” says Yamshid Farhat Quiñones.
“A key feature in our software solution Grid Vision™ is the collaborative approach between human and machine. Our experience shows that efficient use of the Subject Matter Experts helps the AI improve faster while managing operational risk. We are pleased that BKW wants to promote what we do together on Collaborative AI,” says Khaoula Benserhir, Customer Success Manager at eSmart Systems.
AI+ is a new international conference focusing on applied AI, with the purpose to offer Norwegian as well as international environments an arena for competence sharing and interaction within the field of artificial intelligence.
The three-day webinar on 15-17 of September 2020 is a digital prelaunch to a physical conference in the spring/summer of 2021.
The AI community will gather problem keepers and problem solvers to drive forward the potential of AI across business, science and tech. This year’s AI+ Master of Ceremonies (MC) is Dr. Silvija Seres. She is a mathematician and a technology investor and describes herself as “an academic techie with a past in corporate leadership, a present in entrepreneurial investment, and a future in large-scale digital transformation processes in public and private sector”.
About AI+
The AI+ consortium aims to contribute to the Norwegian government reaching its digitalization goals, as stated in both the digitalization strategy for the public sector and in the national strategy for artificial intelligence. Applied artificial intelligence and sustainability will be the focus areas. AI+ is intended as a yearly conference and is expected to grow to become a natural arena for industries where applied artificial intelligence can be integrated with business purposes, and for networking and innovation.
The AI+ conference is made by Smart Innovation Norway, IFE Institute for Energy Technology, Halden municipality and eSmart Systems.
AUSTIN, Texas – eSmart Systems, Xcel Energy, and EDM International announce the completion of the first phase of a strategic initiative to enhance the aerial inspection of Xcel’s transmission system. The foundation of this solution is Collaborative Intelligence, which combines human intelligence with Grid Vision™, an AI-based analytics solution from eSmart. The first phase, launched in December 2019, was successful in deploying Collaborative Intelligence to inspect and document 2,897 miles of Xcel Energy’s transmission assets and finished ahead of schedule in March. The multi-year initiative will be expanded into Phase Two to continue to update asset records, reduce operational costs, decrease failure rates, and extend asset life
Xcel Energy’s work on unmanned aircraft systems with our partners demonstrates that collaboration benefits customers, the economy, and the environment,” said Michael Lamb, senior vice president, transmission- Xcel Energy. “Our company is an industry leader in using UAS technologies for transmission line inspections and our work with eSmart Systems and EDM will help improve the safety and reliability of the energy grid.
Phase Two launched in May 2020.
Phase Two builds on the success of Phase One, with an additional 5,000 miles of Xcel Energy’s transmission system to be inspected by the end of 2020. As in Phase One, transmission asset imagery will be collected by Xcel Energy’s Unmanned Aircraft Systems (UAS) and manned helicopters. Phase Two will further improve the inspection processes by enhancing the Collaborative Intelligence approach with a deeper integration of eSmart’s Grid Vision™, an AI-based analytics system, into their existing business processes. eSmart and EDM are leveraging the Phase One image data to improve the efficacy of Grid Vision™ by eSmart, making the asset component identification and defect detection more efficient and effective.
eSmart Systems is pleased to partner with EDM to bring its Collaborative Intelligence approach to help Xcel Energy use aerial image data. We see this project as helping utilities to practically bridge the gap in the transition from today’s largely manual processes to the world that leverages digital technology such as AI and UAS images for grid inspection and asset management
Phase One was a tremendous success for the partnership of Xcel Energy, EDM, and eSmart. We are now in the process of applying those results to enhance our large-scale transmission inspection capabilities. The problems we’re solving for Xcel Energy, including a full inventory of grid assets and updating their inventory system, as well as accelerating the identification of defects, will help utilities more efficiently and safely operate their critical infrastructure
Collaborative Intelligence
The Collaborative Intelligence approach combines human intelligence from EDM’s T&D Subject Matter Experts with Grid Vision™, an AI-based analytics system by eSmart. Together they analyze aerial images captured by Unmanned Aircraft Systems and manned helicopters. This project is seen as a key linchpin transitioning from today’s manual grid inspection practices to a process that uses the optimal combination of humans, AI, and aerial images. These synergies result in more efficiently inspected grid systems, reduced failure rates, and extended asset life.
About the Companies
eSmart Systems
eSmart Systems is a developer of disruptive intelligent analytics targeting utility and energy markets. eSmart Systems, headquartered in Norway, has 80 employees including sales representatives in Denmark, UK, and in the US. The company was established in 2013, has commercial revenues from large and established utilities and transmission & distribution grid operators. Key owners are Kongsberg Digital, Energy Impact Partners, Equinor Energy Ventures, Nysnø Climate Investments, Innogy Ventures, and several Norwegian utilities.
For more information, visit esmartsystems.com.
Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
EDM International
EDM is an employee-owned alliance of engineers, scientists, technologists, and businesspeople providing innovative services and products to the utility industry since 1982. The company has become a leader in utility engineering, operations, and asset management by merging excellence in technical disciplines with a genuine concern for client needs. EDM is headquartered in Fort Collins, Colorado, and has offices in San Diego, California, and Billings, Montana, and staff in other locations in North America.
Contact
Knut Johansen, CEO, eSmart Systems, + 47 909 81 318
knut.johansen@esmartsystems.com
Steve Hambric, President North America, eSmart Systems, +1 (404) 432-6891
steve.hambric@esmartsystems.com
Maria Cervantes, Marketing & Communications, eSmart Systems, +1 (512) 999-6645 maria.cervantes@esmartsystems.com
7 leading Norwegian utilities entered a three-year R&D partnership with eSmart Systems to improve
current power grid operations and maintenance.
eSmart Systems has since 2013 been developing Connected Grid with central Norwegian DSO’s through the R&D projects Braadland and Astrum. The success from the former projects has led to innovative solutions, new partners and the current R&D initiative Opal.
“We are pleased that some of Norway’s most progressive utilities have chosen eSmart Systems as a long-term partner through their commitment to the Opal-project. I am confident that our initiatives will have a major impact on the power grid industry,” says Knut H. H. Johansen, CEO of eSmart Systems.
Access to data
The project´s objective is to create an open AI-platform system that will, through a unique and secure method of processing data and training of AI-algorithms, increase each customer’s data’s value, in addition to accelerate the usage of applied AI for the utilities, regardless of their size.
“Together with the partners, we have identified a need for new systems that build upon the results of our previous R&D projects. One of the most important premises for utilizing the power of artificial intelligence is access to data. Asset Intelligence will be essential to the product moving forward,” explains Erik Åsberg, CTO at eSmart Systems.
Intelligent Asset Management will use data from all customers to calculate probabilities of errors down to the component level based on load, environment, and location. With applied AI the operation of power grids can be revolutionized. The project’s main goal is to make the AI technology more easily accessible and applicable to the utility companies.
“eSmart Systems has a unique expertise when it comes to AI and intelligent solutions. We are looking forward to continuing the collaboration with eSmart Systems and all the project partners. This investment will lead to increased opportunities and add great value to the data we collect in the future,” says Tore Morten Wetterhus, CEO in Glitre Energi Nett.
In addition to Glitre Energi and eSmart Systems, the Opal project includes Troms Kraft Nett, SFE Nett, Norgesnett, Hallingdal Kraftnett, Lyse Elnett, and Ringerikskraft Nett.
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eSmart Systems strengthens its ambitions for growth in North America. In July, the company opened the new US headquarters in Austin, Texas.
eSmart Systems US Inc, a subsidiary of eSmart Systems AS, has recently made the move from its previous office in Bellevue to the growing tech hub of Austin. Being in the center of the country also has logistical advantages for the successful delivery of eSmart’s programs across North America.
Building on its demonstrated success in Europe, eSmart Systems recently secured a USD 34 million investment for international expansion with a focus on North America. This investment has led to an increased focus on strengthening the company’s presence in the US.
We look forward to being Austin-based and to continue building our team of industry experts. The US is a key market for eSmart’s global ambitions, says Steve Hambric, President North America at eSmart Systems US, Inc.
The new office is located in North Austin, 11801 Domain Blvd 3rd Fl. To learn about opportunities to join our team please see careers page.
COVID-19 is having a dramatic impact on our lives, societies, and businesses. We want to share an update on what eSmart Systems is doing to keep our people, customers and partners safe while we continue to deliver our services around the world.
eSmart Systems is following the guidance of global health experts at the Norwegian Institute of Public Health (NIPH), World Health Organization (WHO), and U.S. Centers for Disease Control (CDC) on preventing the spread of the COVID-19 virus. All employees in eSmart Systems are now working from our home offices and we have stopped all public travelling. But we are privileged to be able to deliver uninterrupted services and operation over the Internet.
This requires new routines and business processes both internally and externally with customers and partners. We have activated our CIRT – Critical Incident Response Team and follows the principles and guidelines in our business continuity plans to ensure information security, business operation and communication in this extraordinary situation.
Information security – a top priority
When turning the whole operation into a fully distributed organization overnight, we must enforce new and improved security measures both for people and systems. Security of information is a top priority for eSmart Systems, and we were recently awarded ISO/IEC 27001 certification that proves the company’s ability to protect internal and external information to the highest standard.
Maintaining operation – our primary focus
As the company is serving customers and partners across the world, we are focusing on maintaining the highest level of service possible. Even if we are refrained from travelling and commuting the whole organization has shown tremendous skills and discipline in using collaboration tools like Microsoft Teams, Slack, Chat and Video Conference services to maintain our operations. Our Gold partnership with Microsoft supports us in providing premium, uninterrupted Microsoft Azure based services to customers and internal operation.
If there is anything we can do to support you or your organization in these challenging times do not hesitate to contact us either through your customer representative, via our Support line support@esmartsystems.com or directly on our cell phones.
As this situation is evolving rapidly, we will continue to communicate via social media and on our Web page how eSmart Systems is responding to COVID-19 development and implementation of new supporting procedures.
Stay safe, nut H. H. Johansen CEO
We are a part of the Satellite Imagery and Drone Use panel at the EEI Wildfire Technology Summit in Dallas on February 18.
Steve Hambric, President North America at eSmart Systems, will be part of the panel, together with representatives from Battelle Memorial Institute, ORNL, StormGeo and SharperShape.
During the panel discussion I will focus on collaborative AI, the efficiency and efficacy improvements of AI in the inspection process, and the use of synthetic data to create algorithms for less common defects
The session will cover an array of solutions and advancements regarding unmanned aircraft systems (UAS) and initiatives related to satellite/geospatial imagery that are now available and/or being applied by electric companies to meet the many challenges around the wildfire threat.
Moderator is Chris Eisenbrey from Edison Electric Institute (EEI).
Utility attendees include PG&E, Xcel, SCE, Oncor, PNM, OG&E among others.
Leverage New Technology
Some areas that will be explored are the application of artificial intelligence (AI) and machine learning; advances in data imagery analytics; federal government and national lab initiatives and activities. In addition to strategies and policies that should be considered that will allow the industry to more fully unleash and leverage the many tools and technologies in this space.
Learn more about EEI Wildfire Technology Summit.
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- “A great honor and a new milestone for us”
- New app effectively collects inspection data
- Microsoft and eSmart Systems – bringing innovative solutions to the energy and utility industries
eSmart Systems secures valuable information security certification after the company recently became ISO/IEC 27001:2013 certified.
ISO/IEC 27001 is the most widely recognized international standard for an Information Security Management System. An ISMS is a framework of policies and procedures that includes all legal, physical and technical controls involved for risk management processes in an organization.
Information security – a top priority
Security of information is a top priority for eSmart Systems and the newly awarded ISO/IEC 27001 certification proves the company’s ability to protect internal and external information to the highest standard. As the company continues to scale with customers and partners across the world, it is essential that information security is of the highest priority.
This is an outcome from thorough preparation and hard work from all of our employees and management. It is essential for a company like eSmart Systems to be ISO certified. This certification proves our commitment to securing our client’s Information assets and protect our business, including software and IP.
This demonstrates that our organization is taking the proper measures in risk assessment and reliability when it comes to information handling and security
The ISO/IEC 27001:2013 certificate
The certificate covers the following activities:
Software development based on cloud technology and artificial intelligence that provides insight into data and decision support primarily for the energy sector based on sensors and images, improved power grid operation and optimization of investments in the grid.
Additional information about the ISO standards can be found here: https://www.iso.org/