Fiber-based monitoring systems to support major clean energy project in Northeastern United States
22 Março 2023 - 9:35AM
Business Wire
Temperature, Depth, and Acoustic Monitoring
will Enable Safe, Efficient Delivery of Sustainable Energy
Luna Innovations (NASDAQ: LUNA), a global leader in advanced
optical technology, was recently awarded a contract for power line
monitoring for an innovative power generation project that will
deliver clean energy to a major metropolitan area in the Northeast
U.S.
Luna’s technology will provide temperature, depth of burial, and
acoustic monitoring for the power cables that form the backbone of
the system. The monitoring services will help ensure safe,
efficient delivery of renewable, reliable, low-cost power over the
area’s 300-mile transmission line. The project will decrease
wholesale electricity costs ‐saving residents of the metro area
$17.3 billion over a 30-year span ‐ and reduce CO2 emissions in the
region by an estimated 3.9 million tons in its first full year of
operation.
"We know from organizations like the World Resources Institute
that cities are a core driver of climate change, accounting for
more than 70% of greenhouse gas emissions,” said Scott Graeff,
President and CEO of Luna. “Fiber-based monitoring systems play a
key role in ensuring that clean, sustainable energy can be
delivered safely and efficiently to major metropolitan areas over
cable transmission lines like the one in this project.”
Luna’s fiber-optic-based monitoring systems use distributed
temperature sensing, depth sensing, and distributed acoustic
sensing technology to detect potential fault locations in electric
power cable systems. In this instance, the company’s sensing
systems will detect compromised areas in or potential threats to
the transmission line. Understanding the exact location of
compromised areas of the project’s High Voltage Direct Current
cable will reduce both repair time and down time for end users and
increase overall safety and operability.
About Luna
Luna Innovations Incorporated (www.lunainc.com) is a leader in
optical technology, providing unique capabilities in
high-performance, fiber optic-based, test products for the
telecommunications industry and distributed fiber optic-based
sensing for a multitude of industries. Luna’s business model is
designed to accelerate the process of bringing new and innovative
technologies to market.
Forward-Looking Statement
The statements in this release that are not historical facts
constitute “forward-looking statements” made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties. These statements include
Luna’s expectations regarding technological capabilities, impact on
energy costs and market, materiality of monitoring systems,
environmental impact and CO2 reductions and operational efficacy
related to its technology and/or products. Management cautions the
reader that these forward-looking statements are only predictions
and are subject to a number of both known and unknown risks and
uncertainties, and actual results, performance, and/or achievements
of Luna may differ materially from the future results, performance,
and/or achievements expressed or implied by these forward-looking
statements as a result of a number of factors. These factors
include, without limitation, changes in market needs and
technological challenges, various environmental factors and other
risks and uncertainties set forth in Luna’s periodic reports and
other filings with the Securities and Exchange Commission (“SEC”).
Such filings are available on the SEC’s website at www.sec.gov and
on Luna’s website at www.lunainc.com. The statements made in this
release are based on information available to Luna as of the date
of this release and Luna undertakes no obligation to update any of
the forward-looking statements after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230322005204/en/
Investor Contact: Allison Woody Luna Innovations
Incorporated Phone: 540.769.8465 Email: woodya@lunainc.com
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