Congratulations to Pierce Atwood client Via Science, Inc. on securing a minority investment by Japan’s largest electric power supplier, Tokyo Electric Power Company Holdings, Inc. (TEPCO). TEPCO’s strategic investment includes capital, as well as sharing subject matter expertise and data to improve the reliability and operating efficiencies of power suppliers and their customers through advanced software analytics applications.
Colin Gounden, CEO of Via Science, in an announcement regarding the investment, stated, “Analytics is critical to improving the operational efficiency of energy companies today and allowing them to stay ahead of regulatory and technological disruptions. TEPCO’s investment is a validation of Via Science’s leadership in causal analytics for applications such as identifying critical infrastructure that is at high risk for power outages, years in advance. We are truly honored to be their first venture investment in machine learning and analytics.”
“The combined experience of Via Science and TEPCO will benefit many energy companies in the US. For example, Pierce Atwood’s clients involved in energy transmission and distribution have been actively seeking analytics solutions to support their reliability and resiliency investment decisions. We are delighted that Via Science's expertise in this specific area has been recognized by a worldwide leader like TEPCO,” said Andrew O. Kaplan, partner at Pierce Atwood.
About Via Science
Via Science creates software applications that identify and prioritize risks to critical infrastructure using a combination of high-performance computing, machine learning and causal analytics. Headquartered in Cambridge, Mass., with its research center in Montreal, Quebec, Via Science has developed its risk assessment algorithms in conjunction with some of the world’s leading companies and government agencies in energy and security. The company has been featured in Wired Magazine, The Wall Street Journal and Forbes for its expertise in causal analytics software applications.
About Tokyo Electric Power Company Holdings, Inc.
Tokyo Electric Power Company Holdings, Inc. (TSE: 9501), headquartered in Tokyo, Japan, is the largest utility in Japan serving more than 29 million homes and businesses. Worldwide the company has more than 74 subsidiaries and affiliates in 8 countries and employs approximately 43,330 people. Consolidated revenue for the fiscal year ending March 31, 2016, totaled 6.8 trillion Japanese yen. The company was established in 1951 and is listed on the First Section of the Tokyo Stock Exchange.