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Smart Grid Technology Company BPL Global Acquires Transformer Monitor Provider Serveron
Serveron will become a division of BPL Global and maintain its headquarters near Portland, Oregon. With this acquisition, BPL Global expands its smart grid presence from the customer premises back through the substation. Serveron’s solutions help utilities avoid transformer failures and resultant blackouts, reduce maintenance costs and defer capital expenditures by extending transformer useful life. On-site transformer monitoring helps electric utilities manage their expensive transformer assets more reliably and operate them with a greater margin of safety, enabling them to minimize or delay the costs of repairing or replacing these valuable assets. The cost of purchasing new power transformers can range from $500,000 to more than $6 million each. BPL Global has a major presence in the United States, Europe and the Middle East. With the acquisition of Serveron, it significantly expands its international footprint, particularly in Asia, Latin America and South Africa. This acquisition enables BPL Global to address a worldwide market with solutions that support the largest and most critical substation asset class, power transformers. “Joining forces with Serveron is an exciting milestone for us,” said Keith Schaefer, CEO of BPL Global. “Utilities have a strong interest in suppliers with comprehensive smart grid solutions and Serveron complements and broadens our offering. We believe the combination of our people, solutions and market reach will accelerate growth, building on our global leadership position in the clean technology sector.” “This is a positive development for our company and our customers,” said Bart Tichelman, CEO of Serveron. “Together, Serveron and BPL Global can deliver innovative smart grid solutions that span utility generation, transmission and distribution applications.” Todd Jaquez-Fissori, a Siemens Venture Capital investment partner, and John Fox, managing director, Perseus LLC, will join BPL Global’s board of directors as a result of the acquisition. “Siemens is pleased to join the BPL Global board because of the importance of smart grid technology in promoting energy efficiency and reaching environmental impact goals,” said Jaquez-Fissori. “BPL Global and Serveron are pioneers in this area. With their deep engineering knowledge and strong global resources, they are poised to make a powerful impact in green technology.” The acquisition expands the reach of BPL Global’s Power SG™ software platform through the substation. The platform provides a comprehensive set of smart grid solutions for the capacity and supply, demand management, reliability and operations, and communications markets of the clean technology sector of the electric utility industry. About BPL Global BPL Global, Ltd. (BPLG) is a smart grid technology company dedicated to leading the transformation of how energy and information are delivered. The company provides software solutions to electric utilities enabling an intelligent grid to more efficiently manage demand, integrate distributed energy resources, improve service reliability, and optimize cost and capital productivity. BPL Global partners with local utilities, ISPs, equipment suppliers and financiers to create end-to-end solutions integrating the best in software, communications, hardware and managed services to aggressively deploy our solutions around the world. Part of the clean technology sector of the electric utility industry, our applications provide the critical foundation for a coordinated, intelligent grid to deliver energy more efficiently for a greener environment. www.bplglobal.net. About Serveron Reliability of the worldwide electrical grid is paramount, and Serveron asset condition assessment and management tools are critical to utilities in improving grid reliability while optimizing the management and economics of their asset base. Smart-grid technology provider Serveron develops, delivers and supports on-line transformer products, as well as diagnostic services, that are helping restructure the way utility assets are managed. Headquartered in Hillsboro, OR, Serveron serves electric power providers in the United States and around the world. For more information, please visit: www.serveron.com. For more information, contact: Barbara Shear Manning Selvage & Lee 212-468-3154 Barbara.shear@mslpr.com |
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