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CST: 15/11/2019 02:27:59   

Federal Aviation Administration Awards Power Analytics New 5-Year Software License Agreement

17 Days ago

Multi-year IDIQ contract to begin immediately

RALEIGH, N.C., Oct. 28, 2019 (GLOBE NEWSWIRE) -- Power Analytics, a global next generation technology platform company that specializes in critical system monitoring, prediction, simulation and data analytics, announced today that it has secured a key long-term contract with the Federal Aviation Administration (FAA) Power Services Group and Engineering Services Division for an Arc Flash Hazardous Analysis Software License to include Training of key personnel. The new multi-million-dollar contract announced today is a five-year “Indefinite Delivery/Indefinite Quantity” (IDIQ) award to Power Analytics.

“This new contract is a continuation of a partnership with the FAA that started back in 2008 with our DesignBase software that subsequently expanded to power monitoring and the Power Digital Twin solution for the power system at its Air Route Traffic Control Centers (ARTCCs),” said Kevin Meagher, Power Analytics President. “This new agreement with the FAA power services group will continue to provide safety solutions for the FAA team and contractors.” 

Keith Barksdale, Power Analytics Chairman and BV Advisory Partners Managing Partner, stated, “We continue to see renewed growth with long time customers like the FAA. With the advances in our Digital Twin platform, PAC will continue to bring the latest updates to our traditional software solutions and some of the most advanced real-time solutions in the power industry that will help our customers and partners realize greater cost savings, increased revenue opportunities, and better operational efficiencies from their critical network infrastructure. Our sales pipeline continues to grow, and we see tremendous upside through the balance of 2019 and into 2020.”

Power Analytics offers world class training that includes power model system development and studies (short circuit, protective device coordination and arc flash) to more advanced studies (power flow, motor starting, transient stability and harmonic analysis) to courses for microgrid and distributed generation (completing energy assessments to include adding distributed energy resources and simulation in the digital twin environment).

About Power Analytics Global
Power Analytics Global is a global next generation energy management company that specializes in asset lifecycle extension, intellectual property development, and real-time analytics and asset management for power and industries supported by power. The Company offers a global portfolio of end-to-end energy optimization and lifecycle management solutions developed from proprietary intellectual property, engineered systems, and operational expertise.  Power Analytics extensive suite of products include power asset life extension, operational servicing and automation, lifetime cost reduction, and real-time heterogeneous power source switching. Additional information regarding Power Analytics may be found on Power Analytics’ website at http://www.poweranalytics.com

Forward-Looking Statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

Investor Relations
Damon Cameron
Power Analytics Global
201.280.9850
dcameron@poweranalytics.com

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