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Corporate Backgrounder: Genscape
LOUISVILLE, KY (2002) -- Genscape Inc. is the originator of
real-time power supply information to support decision-making
for energy traders, power plant and line owners and operators,
regulators, and other energy market participants. The
privately-held company was founded in 1999 in Louisville, Ky. by
former energy traders Sean O'Leary and Sterling Lapinski to
serve the unmet need for reliable, comprehensive supply-side
information in the energy business. Genscape's information
should increase market efficiency while reducing market risks
created by the lack of market transparency. Genscape's
patent-pending technology collects power supply information
using a network of remote, wireless devices to monitor multiple
points on the transmission grid. A number of the largest energy
companies in the U.S. collaborated with Genscape to develop an
effective information delivery mechanism. Genscape's information
delivery network became operational in spring 2001.
"Energy markets have had no means by
which to obtain reliable, real-time power supply information.
This has created an unequal playing field. Genscape's product
addresses this need while establishing the industry standard for
the delivery of such information," said David Doctor, CEO
of Genscape.
Genscape currently provides its information
through an annual subscription service. Customers include
several of the 25 largest U.S. power generating, trading and
marketing companies. Information is delivered to customers
either through a web-based interface designed for energy
industry customers or through direct data feeds into customers'
systems. These data feeds are incorporated into customers'
proprietary trading and analysis systems and are used to drive
various third-party software packages.
First round venture capital funding was
secured in November 2001 from Chrysalis Ventures, the largest
venture capital firm in Kentucky, Indiana-based Vectren
Enterprises and Louisville-based Prosperitas Investment
Partners, LP and The Anchorage Angels.
GENSCAPE TECHNOLOGY
Genscape's information gathering and distribution system relies
primarily on a proprietary, patent-pending technology to monitor
the real-time outputs of the United States' important power
plants and high-voltage transmission lines. Genscape's system
employs an extensive network of wireless monitoring devices that
measure the amount and direction of power flowing over various
transmission lines and uses that information to determine the
amount of power being produced or consumed at hundreds of points
on the power grid.
Information reported to customers includes
highly accurate estimates of the real-time electrical output for
each power plant in the system, power flows over critical
high-voltage transmission lines, and associated information such
as plant capacity, fuel type and ownership.
ABOUT THE COMPANY
Genscape Inc. is the originator of real-time power supply
information to support decision-making for energy traders, power
plant and line owners and operators, regulators, and other
energy market participants. Genscape's information network will
encompass virtually all significant power generation facilities
in the United States . The corporate headquarters are based in
Louisville-Ky. Founded in late 1999, the company remains
privately-held. All Genscape monitoring technologies are
patent-pending. Investors in the company include: Chrysalis
Ventures, Vectren Enterprises, Inc., Prosperitas Investment
Partners, LP and The Anchorage Angels. Many of the leading
companies in the energy industry, including several Fortune 500
companies, subscribe to the Genscape service.
For More Information: Dawn Marie
Yankeelov, Genscape Marketing Consultant, (502) 548-1304; dawny@aspectx.com.
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