In a pivotal move towards advancing grid resilience and modernisation, Pointerra (ASX: 3DP), a trailblazing developer of cloud-deployed technology and AI-driven algorithms, has positioned itself to participate in a transformative $22.6 billion electric grid upgrade program led by Fortune 500 company Entergy. This strategic alliance marks a significant milestone for Pointerra, an existing collaborator of Entergy, as it embraces a critical role in supporting the energy utility industry’s pursuit of efficiency and sustainability.
Enabling Grid Resilience on a Grand Scale
Entergy, a prominent utility provider catering to over 3 million customers across Arkansas, Louisiana, Mississippi, and Texas, has charted an ambitious course with its approximately 10-year electric grid resilience Capital Expenditure (CAPEX) program. As an established partner of Entergy, Pointerra, along with its local engineering, procurement, and construction (EPC) allies, has been selected to contribute to this momentous initiative. The program holds the potential to redefine grid infrastructure and ensure seamless energy supply to millions.
Strategic Decision and Successful Bids
Pointerra’s strategic choice to collaborate with its EPC partners has proven to be a winning formula. The company’s decision to bid for substantial grid resilience projects has yielded remarkable success, positioning Pointerra as a significant player in this transformative journey. Building on its strong foundation and prior successes, Pointerra’s expertise is set to create tangible impacts within the energy utility landscape.
Leveraging Prior Accomplishments
Pointerra’s achievement in delivering a robust 3D solution for Florida Power & Light’s (FPL) grid hardening program has not gone unnoticed. The experience gained from this accomplishment is poised to become a cornerstone for Pointerra’s engagement in Entergy’s program. The FPL project showcased the quantifiable benefits of Pointerra’s unique 3D platform, including substantial time and cost savings. This triumph paved the way for Pointerra to be endorsed by FPL and establish a significant presence within the US energy utility sector.
Revolutionising Digital Twins with Pointerra3D
For the Entergy endeavor, Pointerra’s advanced platform, Pointerra3D, will play a pivotal role. The platform will be harnessed to process and analyze 3D LiDAR and 2D imagery, culminating in the creation of a digital twin of Entergy’s electricity network. This technological marvel will empower Entergy and its EPC partners to utilize Pointerra3D’s Quick Load electric grid assessment tools. These tools enable swift evaluation and prioritization of necessary works in a cost-effective and efficient manner.
Revolutionary Inspections: Up to 4 Million Poles
While the exact payment terms for the new upgrade program are yet to be finalized, Pointerra anticipates being compensated based on a price per pole or structure. Each pole will undergo meticulous inspection and analysis using the Pointerra3D platform. With a potential program launch in 2024, Pointerra envisions analyzing up to 4 million poles. In previous comparable projects, the company has received payments ranging from $30 to $60 per pole for similar processing, inspection, and analysis endeavors.
Embracing Innovation Amid Rapid Industry Growth
The Entergy award aligns seamlessly with the broader landscape of US energy utilities, which are undergoing monumental transformation. Bolstered by substantial government support, these utilities are responding to the dynamic challenges posed by climate change, electric vehicles, and the surge in electric home demand. The scale of investment required has led to innovative approaches to network assessment and resource prioritization. Pointerra’s cloud platform emerges as a potent solution, well-equipped to support these transformative initiatives.
Unlocking a Promising Future
Pointerra’s entry into the $22.6 billion US energy utility upgrade program holds promise not only for the company but also for the energy landscape as a whole. As labor and material shortages present challenges to this ambitious endeavor, Pointerra’s innovative approach and cloud scalability position it as a beacon of support for the energy utility sector. With existing customers championing its cause, Pointerra stands poised to forge a path towards a more resilient, efficient, and sustainable energy future.
