1. Thread, a North Dakota-based company, offers software-as-a-service for electric utilities and power generation sectors to automate data capture and provide asset data management tools.
2. The company’s UNITI Workspace helps utilities track real-time performance of energy assets, automate workflow, and collaborate on data collection and maintenance efforts.
3. Utilizing data collected by Thread’s platform, utilities can improve operations, increase efficiency, support decarbonization efforts, and enhance predictive maintenance of power generation assets.
Companies providing data collection services for electric utilities are in high demand as the power generation industry undergoes digital transformation. Thread, based in North Dakota, offers software solutions for asset data management and collaboration tools for utilities. The company’s UNITI Workspace helps automate data capture for various sectors, including renewable energy and oil and gas. Investors in Thread include Badlands Capital and Minnkota Power Cooperative.
Thread’s CEO, Josh Riedy, emphasizes the importance of digitizing energy assets, such as wind turbines, and supporting utilities in their transition to digital operations. The company’s product involves a self-contained device with AI algorithms for data collection from energy assets. By analyzing data, utilities can improve operational efficiency, reduce downtime, optimize repair schedules, and enhance safety.
The use of data in power generation plays a crucial role in maintaining network reliability, improving performance of renewable energy plants, supporting decarbonization efforts, and enhancing equity and sustainability in the industry. Data-driven approaches enable utilities to make proactive maintenance decisions, monitor assets remotely, and predict potential failures. By utilizing tools like UNITI Workspace and IoT devices like Sensoria, utilities can achieve real-time monitoring, collaborate effectively, and optimize maintenance efforts for a more efficient power grid.