Fortum Enters Smart Grid With BaseN Platform

HELSINKI, December 8, 2010 /PRNewswire/ -- BaseN Corporation (https://www.basen.net/), dedicated to large scale infrastructure monitoring and management, and the leading Finnish energy company Fortum (http://www.fortum.com/), are continuing their cooperation by developing smart grid applications. According to the two firms' agreement, Fortum's customers will get real-time metering and monitoring of their energy consumption as part of Fortum's overall service.

"BaseN's scalable production platform, the ability to collect and process large amounts of data in real-time, opens up interesting opportunities for us. As an industry forerunner, we want to utilize modern, next generation metering technology, and to enable our customers to monitor their energy consumption virtually in real-time, via our portal," says Fortum's Development Manager Vesa Koivisto.

BaseN will complement Fortum as a partner in a new joint city living project, by realizing a real-time monitoring system for electricity, water and heating energy for an energy efficient apartment block to be built in Espoo, near Helsinki.

The joint project in eco-efficient city living known as Espoo Adjutantti is part of the smart grid and energy market research program, central to which are new technology and services. Of equal importance to the program are studies into customers' user experiences and of the overall practicality of the entire concept, which will help ensure its functionality.

"The Adjutantti project is, for us, an important part of the smart grid development project. We want also to study how BaseN's expertise in metering technology can be used in other commercial solutions and applications," Koivisto summarizes.

"As well as discussing smart grids theoretically, it's also good to realize some practical, real world projects, and our technology makes it possible for us to do this. We appreciate Fortum's innovation, and their willingness to create tomorrow's solutions today, so bringing new possibilities to service markets," says BaseN's Director Jukka Vetelasuo.

BaseN Corporation

BaseN is an international measurement service provider, headquartered in Finland and operating around the globe, dedicated to large scale infrastructure monitoring and management. BaseN offers a complete portfolio of services that monitor, measure, analyze and forecast massive data flows. It also visualizes the measurements and provides real time overviews and alerting functions through tailored portals.

BaseN has developed its system for telecom networks and has applied the same technology to clean tech space and can immediately make real time data available to millions of consumers, organizations and households in a cost efficient way.

The BaseN Platform measures an equivalent of more than 10 million smart meters every minute and makes the data available in real time. BaseN is to be the foundation for the Smart Grid by connecting every point of energy consumption in real time. http://www.basen.net

Fortum

Fortum is a leading energy company focusing on the Nordic countries, Russia and the Baltic Rim area. Activities cover the generation, distribution and sale of electricity and heat and the operation and maintenance of power plants. The vision is to be the benchmark power and heat company excelling in sustainability. In 2009, Fortum's sales totalled EUR 5.4 billion and operating profit was EUR 1.8 billion. The company employs approximately 11,500 people. Fortum's shares are quoted on NASDAQ OMX Helsinki. http://www.fortum.com

SOURCE BaseN Corporation