Business
Palantir Providing Technology to Enhance Safety and Reliability of Electric Grid in California
PALO ALTO, Calif.--(BUSINESS WIRE)-- Palantir Technologies (NYSE:PLTR) is providing California’s largest investor-owned utility with technology to help it
About this update from Palantir Technologies Inc.
[{"type":"text","content":" PALO ALTO, Calif.--(BUSINESS WIRE)--\nPalantir Technologies (NYSE:PLTR) is providing California’s largest investor-owned utility with technology to help it streamline data management across the company to improve its electric operations and asset management, resulting in enhanced electric system safety and grid reliability.\n\nPacific Gas and Electric Company (PG&E) has initiated deployment of Palantir’s Foundry software to provide a single, integrated platform to give decision-makers a real-time, complete operational picture.\n\nThe use of this novel technology, in its early stages of deployment, has already enabled PG&E to make effective, timely, data-driven decisions related to its Public Safety Power Shutoff program and is intended to further inform its wildfire risk mitigation programs and initiatives in the future.\n\n“Our engagement with California’s largest investor-owned utility underlines our commitment to increasing safety and reliability for customers and communities across the region,” said Olivier Farache, Palantir’s Head of Utility Sector and Senior Advisor to the CEO. “It shows our Foundry software can power data-driven decisions that aim to improve service delivery.”\n\nThis multi-year, multi-million-dollar contract marks the first time Palantir’s Foundry software is being used by a major U.S. utility’s operations. In the future, plans for Foundry include expanding to inform asset risk and outage investigation, eventually bringing in data from all aspects of the company’s operations to enable enterprise analytics and process improvement.\n\nAbout Palantir Technologies Inc.\n\nPalantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data. Additional information is available at https://www.palantir.com.\n\nForward-Looking Statements \n\nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the am...