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Novinium

novinium.com

Founded Year

2003

Stage

Acquired | Acquired

Total Raised

$25.88M

About Novinium

Novinium and its partners deliver formulations and methods to extend the reliable life of underground cable systems. Novinium's technology solutions address circuit owners' infrastructure problems at a fraction of the cost of existing methods, save energy, save natural resources, and reduce greenhouse gases by eliminating the need for additional production of copper and polymers for new cables. On March 28th, 2022, Novinium was acquired by Southwire Company. The terms of the transaction were not disclosed.

Headquarters Location

22820 Russell Road

Kent, Washington, 98032,

United States

253-395-0200

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Novinium Patents

Novinium has filed 46 patents.

The 3 most popular patent topics include:

  • Electrical engineering
  • Chemical processes
  • Fluid dynamics
patents chart

Application Date

Grant Date

Title

Related Topics

Status

7/17/2019

7/19/2022

Sensors, Chemical processes, Air pollution, Gas sensors, Fire detection and alarm

Grant

Application Date

7/17/2019

Grant Date

7/19/2022

Title

Related Topics

Sensors, Chemical processes, Air pollution, Gas sensors, Fire detection and alarm

Status

Grant

Latest Novinium News

12:28 ET Neighbourhood friendly cable injection program wins Alectra an Underground Environmental Stewardship Award

Dec 15, 2022

News provided by Share this article Share this article MISSISSAUGA, ON, Dec. 15, 2022 /CNW/ - Novinium, a full-service underground power expert that is part of the Southwire family of companies, awarded Alectra with the 2021 'Underground Environmental Stewardship Award' (ESA). For the third time in a row, Alectra earned the ESA award for its industry-leading implementation of an innovative and cost-effective cable rejuvenation process. Ben Schneider, Novinium/Southwire’s Vice President of Utility Services and Brian Bentz Brian Bentz, President and CEO, Alectra Inc. (CNW Group/Alectra Inc) Cable rejuvenation is a process that repairs, protects, and extends the life of underground electrical cables – without digging them up – by injecting a silicone-based fluid into the cable. Cable rejuvenation can extend the life of an aging cable up to 20 years and is much less disruptive than a full replacement. To date, Alectra has rejuvenated 946 km of underground cable, mitigating 12,302 tonnes of CO2. Alectra aims to achieve net-zero CO2 emissions by 2050, and sustainable technologies like cable rejuvenation are important contributors to achieving that goal. "Delivering safe and reliable electricity to our customers is our top priority," said Brian Bentz, President and CEO, Alectra Inc. "We look forward to continuing our partnership with Novinium as we implement innovative, cost-effective technologies to sustainably renew assets and improve service reliability." "I'm thrilled to present Alectra with this environmental stewardship award; it's a true pleasure to serve such a forward-looking utility that approaches capital investment and environmental consideration in the way they do", said Ben Schneider, Novinium/Southwire's Vice President of Utility Services. Alectra is investing to strengthen and modernize its distribution grid to make it more resilient, reliable, and secure, while incorporating the advanced technologies necessary for the growing integration of distributed energy resources. Each year Alectra invests nearly $300 million in capital improvements – approximately $1 million per day to renew aging equipment and install new infrastructure to handle growing demand. Continued capital investments in grid modernization are essential to maintain system reliability and make the changes necessary to build the utility of the future. Visit AlectraUtilities.com/Improving-Reliability to learn more. About Alectra Inc. Serving more than one million homes and businesses in Ontario's Greater Golden Horseshoe area, Alectra Utilities is the largest municipally-owned electric utility in Canada, based on the total number of customers served. We contribute to the economic growth and vibrancy of the 17 communities we serve by investing in essential energy infrastructure, delivering a safe and reliable supply of electricity, and providing innovative energy solutions. Our mission is to be an energy ally, helping our customers and the communities we serve to discover the possibilities of tomorrow's energy future. About Novinium LLC, a Southwire Company Serving electric utilities in the United States and Canada for over 30 years, Novinium utilizes its special trained and equipped technicians and line crews and an extensive portfolio of intellectual property, including its proven CableCure®  fluid, to efficiently and effective rehabilitate underground cable. Novinum is part of the Southwire Company, a leader in technology and one of North America's largest wire and cable producers. SOURCE Alectra Inc For further information: Media Contact: Ashley Trgachef, Media Spokesperson, [email protected] | Telephone: 416.402.5469 | 24/7 Media Line: 1.833.MEDIALN ×

Novinium Frequently Asked Questions (FAQ)

  • When was Novinium founded?

    Novinium was founded in 2003.

  • Where is Novinium's headquarters?

    Novinium's headquarters is located at 22820 Russell Road, Kent.

  • What is Novinium's latest funding round?

    Novinium's latest funding round is Acquired.

  • How much did Novinium raise?

    Novinium raised a total of $25.88M.

  • Who are the investors of Novinium?

    Investors of Novinium include Southwire Company, SJF Ventures, New Energy & Clean Technology Ventures, Alliance of Angels and Nomura Holdings.

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