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 October 29, 2015 - 4:41 PM EDT
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Apex CoVantage and STEG Sign Letter of Intent

HERNDON, Va., Oct. 29, 2015 /PRNewswire-USNewswire/ -- Apex CoVantage, a global provider of utility operational software and services, with a focus on Smart Grid, today announced a collaboration with Tunisia's Societe Tunisienne de l'Electricite et du Gaz (STEG) on a new smart grid pilot program. The details of the initiative, which include leveraging Apex's award-winning ProField® technology in a defined geography, were outlined in a signed letter of intent (LOI).

The near term focus of the engagement will be to support STEG's strategic initiative to reduce non-technical losses (NTLs), as a first step in a global strategy to move on smart grid. Apex will utilize rapid deployment systems for an immediate impact on NTLs as a bridge, and develop pilots and roadmaps for technologies and systems that can be deployed in the medium to long term for robust network upgrades.

Like many electric power utilities, STEG's main objective is to utilize smart grid technologies to upgrade and improve its grid.  In addition, the state-owned operator of the national electricity and gas network will use this opportunity to stabilize electricity costs and deliver more efficient services to its clients through improved data quality and a reduction in non-technical losses.  This is to be achieved through the implementation of Apex's ProFieldReader® and ProFieldAire® solutions.

"The effects of NTLs are dramatic, with recent reports estimating the annual costs at over $89 billion globally," said Anthony Howells, Managing Director for Apex's EMEA division. "STEG has shown considerable commitment in tackling the NTL issue in Tunisia and becoming a pioneer for adopting robust systems and technologies toward that goal. Apex looks forward to partnering with STEG and working to build a stronger, more reliable network."

The success of this pilot program will allow STEG to move forward with full-scale deployment and establish a lasting partnership with Apex.

About STEG

Tunisian Company of Electricity and Gas, or STEG, is a Tunisian public company non-administrative.  Established in 1962, its mission is the production and distribution of electricity and natural gas on the Tunisian territory.

Apex Smart Grid Solutions

Apex Smart Grid Solutions is the developer of ProField®, the award-winning mobile workforce management technology used for Smart Metering deployments. ProField is the industry's only integrated solution for mobile workforce management, easing the road to smart grid for utilities by effectively managing AMI rollouts -- ensuring safety, reliability, on-time completion, and enhancing customer engagement. Apex licenses ProField around the world and also uses the technology for managing its own meter replacement and network equipment installation services for electric, water, and gas utilities. See more at: http://www.ApexSmartGrid.com and follow Apex on Twitter at @Apex_Smartgrid.

Media Contact:
Kristin Wold
Apex CoVantage
703-709-3489
kwold@apexcovantage.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/apex-covantage-and-steg-sign-letter-of-intent-300169125.html

SOURCE Apex CoVantage


Source: PR Newswire (October 29, 2015 - 4:41 PM EDT)

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