Palm Beach, FL – February 15, 2022 – FinancialNewsMedia.com News Commentary – With the ever evolving demand for power, both the government and the private entities are emphasizing reducing power wastage, thus boosting the transmission & fault detection industry trends. Faults in transmission and distribution lines play a major role in the reliability of power systems as early detection has gained prominence in recent years. It has become instrumental to minimize or avoid cascading outages, thereby boosting industrial processes. Besides, smart fault detection has garnered huge attention to accurately and automatically provide fault location information. These advanced fault detection systems address transmission and distribution fault issues, including automatic fault detection and diagnosis. A report from Global Market Insights speaking about the Transmission & Distribution Fault Detection Market size said it will witness an appreciable gain over 2021-2027, driven by the increasing focus towards minimizing power losses across worldwide geographies. The report said: “Smart fault detection systems can save energy and resources and detect fault robustly and quickly. The prevalence of natural calamities has further signified the importance of transmission & distribution fault detection networks.” Active companies in the markets today include: Viking Energy Group, Inc. (OTCQB: VKIN), PG&E Corporation (NYSE: PCG), Brookfield Infrastructure (NYSE: BIP), PNM Resources (NYSE: PNM), Duke Energy (NYSE: DUK).
Global Market Insights continued: “In terms of application, transmission & distribution fault detection market value from the substation segment will expand at a strong CAGR through 2027. Substations are sought for control, protection and monitoring, enabling power routing from generators to loads. Some of the factors such as capacitors’ faults, voltage transformers’ faults and busbars’ faults have highlighted the importance of fault detection. Automated fault detection is likely to give impetus to substations to provide better fault analysis. Based on geography, North America is likely to account for a lion’s share during the forecast period 2021-2027 in the wake of demand from the oil & gas industries. The U.S. has witnessed immense interest and acceptance of cloud-based fault detection in the oil and gas sector. Transmission fault detection lines have gained traction owing to their accurate, robust and efficient approach, driving the growth of North America transmission & distribution fault detection industry share.”
Viking Energy Group, Inc. (OTCQB: VKIN) BREAKING NEWS: Viking Closes Acquisition Re: Electric Transmission & Open Conductor Detection Technologies – Viking Energy Group, Inc. (“Viking” or the “Company”) Viking Energy Group, Inc. (OTCQB:VKIN) (“Viking” or the “Company”) is pleased to announce it acquired on February 9, 2022 a 51% interest in two entities that own the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems. The purchase price for the interests acquired by Viking is up to $21,000,000, with $5,000,000 payable in shares of Viking on closing (i.e. $250,000 in common stock and $4,750,000 in preferred stock) and the balance payable upon certain sales thresholds being achieved.
The systems are designed to detect a break in a transmission line, distribution line, or coupling failure, and to immediately terminate the power to the line before it reaches the ground. The technology will dramatically increase public safety and reduce the risk of causing an incendiary event and is designed to be integral component within a much-needed, worldwide grid hardening and stability initiative by electric utilities to improve resiliency and reliability of existing infrastructure.
James Doris, President and Chief Executive Officer of Viking, commented, “This technology is extremely important. It truly is difficult to put a monetary value on a solution that can sense a broken power line and cut the electricity flowing through the line before the wire hits the ground. Arcing and sparking energized power lines are hazardous, and difficult to detect using traditional concepts. Unfortunately, people in places like California, Western Canada, Australia and other parts of the world are fully aware of what can happen when a downed, energized power line makes contact with the ground. The damage caused by these wildfires has been catastrophic. We have already begun discussions with major utilities in California and global equipment manufacturers for deployment. Our solution can be quickly and cost-effectively deployed in high-risk areas first, then utilized more broadly by all utility companies to help reach their grid hardening goals.
This scalable advancement in grid protection technology is a simple, sustainable alternative to trenching power lines underground or an embarking on comprehensive forest management planned approach. Viking’s newly acquired products offer protective solutions for two distinct utility applications: (i) Transmission Lines; and (ii) Distribution Lines.
Viking’s Transmission Line solution is a software-based solution designed to be deployed within a utility’s existing protection relay infrastructure, allowing the utility to protect their grid without the need for costly and time-consuming installations.
Viking’s Distribution Line solution, known as “The Line Sentinel”, is fully engineered and will be introduced to the market through an internationally-recognized manufacturer and distributor of protective relay systems and other products. CONTINUED… Read the Viking Energy full press release by going to: https://www.vikingenergygroup.com/news-media/press-releases
In other news and developments of note in the markets this week:
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG) announced customers received more renewable and greenhouse gas-free electricity in 2021 than ever before. PG&E’s mix of electricity sources remains among the cleanest in the nation.
PG&E estimates that 50% of its customers’ electricity in 2021 came from specified eligible-renewable resources including biopower, geothermal, small hydroelectric, solar and wind power, according to its recent Form 10-K. Overall, 93% of its customers’ electricity came from greenhouse gas (GHG)-free resources, including renewables, nuclear and large hydroelectric power.
“Working with our customers, communities and other partners, we have transformed California’s energy landscape—creating a robust renewable energy market and reducing greenhouse-gas emissions across the state. Now, we’re adding more battery energy storage to enable even more renewables onto our electric grid, paving the way to a healthier environment and carbon-neutral energy system for all Californians,” said PG&E Corporation Chief Executive Officer Patti Poppe.
Brookfield Infrastructure (NYSE: BIP) recently announced its results for the fourth quarter ended December 31, 2021. “2021 was a remarkable year for Brookfield Infrastructure, highlighted by our strong organic growth, capital recycling accomplishments, and the deployment of significant capital into new investments and other growth initiatives,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “We begin this year with a strong liquidity position and half of our 2022 deployment target already secured.”
For the year ended December 31, 2021, we reported net income attributable to the partnership of $1.1 billion compared to $0.4 billion for the prior year. Current year results reflect strong operating performance and organic growth across our portfolio, in addition to the initial contribution from growth capital deployed during the year. Net income in the current year also includes gains associated with the disposition of several businesses completed during the year, most notably the sale of our district energy portfolio. These positive factors were partially offset by an increase in future U.K. tax rates, which led to the recognition of a non-recurring deferred tax expense during the year.
Duke Energy (NYSE: DUK) has recently posted its fourth-quarter and year-end 2021 financial results in a news release available on the company’s website at the following link: duke-energy.com/investors.
A replay of the conference call will be available until 1 p.m. ET, Feb. 20, 2022, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 9510910. An audio replay and transcript will also be available by accessing the investors’ section of the company’s website.
PNM Resources (NYSE: PNM) recently released its preliminary 2021 year-end results. In addition, management announced its 2022 consolidated ongoing earnings guidance of $2.50 to $2.60 per diluted share and 2023 consolidated ongoing earnings guidance of $2.60 to $2.75 per diluted share.
“Last year’s earnings add to our strong track record of delivering results as we continue to invest in critical infrastructure to meet customer needs and enable the clean energy transition,” said Pat Vincent-Collawn, PNM Resources’ chairman, president and CEO. “We remain committed to our merger with Avangrid and have appealed to the New Mexico Supreme Court in order to bring additional benefits to customers, employees and communities. Throughout the process, we will focus on maintaining strong customer reliability and affordability, transitioning to clean energy and supporting our communities.”
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