Micromem Technologies, through its wholly owned subsidiary, Micromem
Applied Sensor Technologies (MAST), announced that MAST and
Northeast Utilities (NU) have executed a supplemental agreement
that furthers the transformer sensor project described in an
agreement announced December 11th, 2013.
Under the terms of the agreement both NU and MAST will continue to
collaborate to develop technologies that will improve utility
transformer equipment functionality and longevity through the use of
sensor technology. In addition, the agreement acknowledges that Stage
Gate Two of the Proof of Concept has been successfully completed. Both
companies are now proceeding to prototype development, field-testing
and system optimization.
NU is committed to deploying transformer sensor technologies when
routine manufacturing begins. NU has been providing valuable insight as
to how to effectively and safely integrate the MAST sensor technology
into transformers and pursuant to the agreement, invest an additional
$200,000 with MAST for prototype development.
"At Northeast Utilities, we are always looking for ways to improve the
performance of our electric system and ultimately, to reduce the
frequency and duration of customer outages," said Camilo Serna, Vice
President of Strategic Planning & Policy at Northeast Utilities. "We
are very pleased with the team's progress on developing this new
technology, which would allow us to monitor and maintain our
transformer equipment more effectively."
Steven Van Fleet, President of MAST stated, "I am particularly proud of
our collective engineering teams. We committed to delivering a
witnessed demonstration of this game changing technology and we met
that goal. There is no better reward in this type of collaboration than
being able to deliver what you committed to."
Joseph Fuda, President of Micromem Technologies stated, "Working with
Northeast Utilities on this project and bringing it to this point is a
moment of major pride for Micromem and all the people working here.
This will change the way an industry monitors its infrastructure and
services their customers. We are looking forward to the deployment of
sensor technologies and other opportunities with Northeast Utilities."