OXFORD, England, July 13, 2023 /PRNewswire/ -- Lucy Group has acquired the assets and IP of Fundamentals' Artificial Intelligence & Machine Learning (AI/ML) business. Focusing on grid monitoring and fault location, the AI/ML capability will merge with Lucy Electric's GridKey intelligent Low Voltage (LV) remote monitoring system and digital substation activities.
Paul Beck, Gridkey & Innovation Director at Lucy Electric, said: "As electrical networks get older and the load on them is increased, reliability becomes a significant issue. This exciting technology, when coupled with our existing GridKey monitoring system, allows not just improved fault management but also the ability to carry out preventative maintenance before faults occur."
Jon Hiscock, Director and CEO at Fundamentals, said: "Following successful innovation trials with UK Distribution Network Operators, Lucy Electric is ideally positioned to commercialise our AI/ML technology and roll it out at scale on distribution networks."
One of the main applications of this AI/ML technology in the electric power industry is the detection of intermittent faults in underground cables using an algorithm known as SYNAPS. The SYNAPS solution uses hardware installed at local substations to collect data from these early intermittent faults and then run an AI algorithm against a 'digital twin' model of the distribution grid. This enables the type of fault to be classified and the location to be identified, allowing planned maintenance intervention to prevent power interruption, which is far more efficient than an emergency repair.
Editors' notes
About Lucy Electric
Lucy Electric is an international leader in intelligent secondary power distribution products and solutions, with remote operation and monitoring. Linking energy generation to consumption, the business specialises in medium and low voltage switchgear and digital substations for utility, industrial and commercial applications. Lucy Electric is a business unit of Lucy Group, an international group that is making the built environment more sustainable. Established in Oxford 200 years ago, Lucy Group now employs 1,600 people across 5 continents.
More information: https://www.lucyelectric.com/
About Fundamentals
Fundamentals is a company committed to the development of technology to help improve the health and performance of the electricity grid. Using intellect and expertise in the area of voltage control, artificial intelligence and power system communications, the company is addressing some of the challenges for grid operators presented by the energy transition. Established in Oxford more than 30 years ago, Fundamentals now has operations in Swindon, Oldham (Ferranti Tapchangers) and Perth (Australia).
More information: https://fundamentals.tech/
Contacts
Patrick Pearson
Group Head of Marketing & Communications
Lucy Group Ltd.
+44 (0)7442 859751
patrick.pearson@lucygroup.com
Becca Ross
3THINKRS (PR agency for Fundamentals)
+44 (0)7447 917348
fundamentals@3thinkrs.com
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