Prisma Photonics receives strategic investment from Israel Electric Corporation

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• Israel - English

TEL AVIV, Israel, April 6, 2022 /PRNewswire/ -- This morning, Israel Electric Corporation (IEC) announced a strategic investment in Prisma Photonics six months after the companies' first-of-a-kind collaboration in Israel. Through this collaboration, the national power transmission grid will be monitored by Prisma Photonics, using its optical fiber sensing technology. By leveraging IEC's optical fiber network, PrismaPower monitors 100 km of grid for electrical faults, physical damage to power towers and transmission lines, and extreme weather conditions. The system tracks faults and events right down to the power tower closest to the source of the problem.

Prisma Photonics is an Israeli startup whose proprietary solutions monitor critical infrastructures without installing additional sensors. Instead, its solutions use the optical fibers network deployed alongside those infrastructures, using fibers as a monitoring tool to alert for any problems, damages, or any abnormal behavior from the regular operation of the infrastructure, whether in power transmission lines, leaks in oil and gas pipeline, breaks in subsea cables, or any other issue in infrastructure with an optical fiber running along with it.

"IEC seeks to position itself among the most advanced power operators in the world through the continuous adoption of advanced technologies that help us meet the larger missions ahead," said Ofer Bloch, IEC's CEO,

"Prisma Photonics offers a novel, field-proven paradigm that transforms everything we have known about critical infrastructure monitoring. Our investment in Prisma Photonics is another step in IEC's immersion in innovation and high technology. In addition, the collaboration with an Israeli company adds further to our pride in this deal."

"Having your strategic customer as your strategic partner is the strongest vote of confidence a company can hope for," added Dr. Eran Inbar, Prisma Photonics' CEO. "As an innovative corporation, IEC started collaborating with us six months ago. The current investment supports its commitment to advancing Israel's power supply industry through innovation. To date, our system has transformed the optical fiber infrastructure deployed on IEC's high-voltage grids into a sequence of extremely sensitive sensors that identify issues and track their precise location down to the nearest power tower level in real-time and with no need for placing additional sensors along the transmission lines."

The Prisma Photonics system is based on a groundbreaking technology anchored in several patents. Having won several technological contests worldwide, infrastructure operators have already used its technology globally. PrismaPower™ is the world's first fiber optics based electrical overhead powerline monitoring solution. Its deployment by IEC reflects a significant upgrade of the relationship between the companies and the importance that IEC attached to advancing novel technologies that ensure the safety and integrity of the transmission system side by side with environmental accountability.

As part of the collaboration with IEC, the Prisma Photonics system was deployed on IEC's transmission grid. It identifies safety incidents such as compromising or climbing power towers, electrical issues, short circuits, and partial electric discharges. It also alerts for unusual weather events such as strong winds, lightning hits near the lines, etc. In addition, the electro-optical fiber monitoring further protects against physical cyber-hacking of the communication infrastructure.

About Prisma Photonics

Prisma Photonics helps keep the most critical large-scale infrastructure up & running. Introducing a quantum leap in utility monitoring for smarter, safer, and more efficient operations in power, oil&gas, subsea, rail, and more. We enable our customers to take responsibility for their assets with real-time actionable insights. Featuring an innovative pay-as-you-grow model, we combine pioneering Hyper-Scan Fiber Sensing™ technology with machine learning responding to safety, efficiency, and security scenarios.

Founded in 2017 by an expert team with a proven track record of building and scaling companies in the lasers and deep-tech domain – Prisma Photonics enables response-ability at scale.

Logo: https://mma.prnewswire.com/media/1742669/Prisma_Photonics_Logo.jpg

SOURCE Prisma Photonics

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