8power named by Gartner as a Cool Vendor in IoT Thingification
8power is delighted to announce that it has been named by Gartner as a Cool Vendor in the May 2020 Cool Vendors in IoT Thingification report. (Gartner “Cool Vendors in IoT Thingification,” Bill Ray, et al, 14 May 2020)
Said Paul Egan, CEO of 8power, “We are thrilled to be named a Cool Vendor by Gartner. Our innovative energy harvesting sensors are designed to help industry improve efficiency, save money and reduce carbon footprint. In our view, this Gartner recognition validates our vision of helping water companies overcome resource limitations to diagnose problems with motorised assets early, reducing downtime and catastrophic failure.
We believe that the problem of powering systems in the field at low cost, efficiently and for extended periods has remained unsolved. Wired power is an option but comes with the costs and reliability of installing cables in an industrial environment.
Batteries provide an alternative power solution and are good in certain applications. What is really needed is a renewable power source that can operate maintenance free, for up to 10 years. 8power delivers this with its energy harvesting sensors.”
As Gartner states in the report “replacing batteries is expensive, and scales badly, so techniques to reduce power consumption, and exploit additional sources of power, are critical. We believe that the added benefit is that there are no wires to deal with, making installation and maintenance easier. Furthermore, the sensors use a rechargeable cell that contains a significantly lower level of lithium than single use primary cell.”
The report further states, “this year we have selected Cool Vendors which can help create viable projects by reducing operational costs, pushing intelligence to the very edge of the network, and providing enough power to keep it operational at any scale.”
Gartner outlines in the report that “even where the ambient resources aren’t sufficient to provide all the energy needed, harvested power can be usefully harnessed. A recharging battery can, for example, allow intermittent use powered by constant harvesting. Battery life can also be significantly extended by constant topping up, reducing the frequency with which replacements are needed.”
The business model and return on investment is compelling — the cost of replacing batteries can be measured against the cost of the energy-harvesting hardware. Sensor technology eliminates costly shocks and surprises and helps extend the shelf life of capital equipment. In the water industry machines can be run for too long leading to replacement costs in the £millions. Sensors keep on eye on assets and help diagnose issues early leading to early intervention and reduced downtime and costs. The technology does not just improve asset monitoring and maintenance but can be seen as a financial planning tool.
One company that 8power has been working with is Severn Trent. In a pilot project, a sensor detected a fault with the housing around a bearing casing. 8power technology enabled the company to take action early, saving it £462,000.
With greater intelligence, powered from ambient energy sources and designed to take maximum advantage of the required result, there are very few instances where IoT thingification can’t deliver an effective (and demonstrable) return on investment according to Gartner.
Gartner subscribers can view the full Cool Vendors in IoT Thingification report here.
Gartner “Cool Vendors in IoT Thingification,” Bill Ray, et al, 14 May 2020
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