Platform will reduce plants’ operational and licensing risks by more than 50%
By Thomas Cheplick
New York City-based WizNucleus, a provider of next-generation technology solutions to the energy industry, has announced that it has developed an advanced information technology platform that will help nuclear power plants operate more effectively, and help plant operators balance risk and regulation compliance decisions better.
WizNucleus’ Enterprise Suite of Products is a knowledge-based, risk-informed platform designed to enable nuclear power plant technicians to intelligently track, store, manage, and utilize plant-critical information such as an inventory of all plant equipment, warranties on plant systems, a history of all plant modifications, and the complete range of requirements under which nuclear plants must operate.
The company created the product after studying the international nuclear energy sector and realizing that nuclear sector equipment vendors, technicians, and architect engineers want to share information between themselves more rapidly than they presently do.
Bruce Hinkley, WizNucleus’ Managing Director of their Nuclear Services practice, says that the company’s Enterprise Suite of Products will support the real-time critical information needs of nuclear power plants while simultaneously reducing plants’ operational and licensing risks by more than 50%.
“We will help nuclear facilities worldwide to perform at an even higher level by mitigating risks related to new plant cost, schedule and operation,” Hinkley said.
Hinkley notes that demand for WizNucleus’ platform is palatable as the international nuclear energy sector is a $200 billion market and is expanding.
“Two European Pressurized Reactors are under construction in Europe. China is also planning to build two European Pressurized Reactors. In 2008, the Department of Energy announced the availability of loan guarantees for $18.5 billion in financing for new power reactor projects. In response to this, the agency received requests for $122 billion in loan guarantees for 14 projects totaling 21 reactors,” notes Hinkley.
Krish Shetty, CEO of WizNucleus, said: “Our technology will transform the way current and future nuclear power plants create, modify, share, and store information during all phases of their lifecycle – from licensing to decommissioning. Also, WizNucleus will enable nuclear plant partners, suppliers, and customers to more efficiently meet and accelerate project work schedules, while also lowering their budgets and improving performance through cycle time reductions resulting from real-time information, and risk management.”
WizNucleus, partnered with Beckman and Associates, to develop the product. WizNucleus’ Enterprise Product Suite is scheduled to be delivered in-between the third and fourth quarters of 2009.