DGAP-News: Knightscope, Inc.
Threats of a coordinated attack on the U.S. power grid are serious and, if they occur, could result in deaths, serious injuries, social unrest and economic disaster.
For decades, government reports, industry journals and academic articles have raised the alarm on the dangers of intentional attacks on the nation’s unprotected power grid.
For example, in its 2014 report “Securing the U.S. Electrical Grid,” the Center for the Study of the Presidency and Congress called the nation’s power grid “an obvious target to a range of actors who would seek to strike at the U.S. homeland.”
In 2007, the National Energy Technology Laboratory wrote, “The threat of both physical and cyber attack is growing and a widespread attack against the infrastructure cannot be ruled out.”
With terrorist threats on the electric grid a reality, some utilities are taking measures to protect themselves from physical attacks on their infrastructure.
Pacific Gas and Electric Co. (PG&E), for example, has doubled the number of Knightscope, Inc. (NASDAQ: KSCP) K5 Autonomous Security Robots in its lineup, bringing the number of machines guarding its facilities to 10. PG&E is a subsidiary of the holding company PG&E Corp. (NYSE: PCG).
With the number of electric utility companies estimated at more than 3,300, according to Statista, there are plenty of opportunities for Knightscope to help the nation protect the power grid. The U.S. power grid connects about 2.5 million miles of feeder lines and more than 450,000 miles of high-voltage transmission lines, according to Statista.
PG&E signed its first contract in 2021 to test whether Knightscope’s robots would provide the level of safety and overwatch necessary to secure certain properties. During the successful pilot, Kightscope helped the utility reduce costs, prove value with a positive return on investment and build confidence that the service would meet its demands.
Technologies such as those Knightscope offers are becoming a key component to augmenting guard services at a time when it is challenging to fill guard personnel jobs.
“Knightscope’s autonomous security robots work 24/7/365 with greater detecting and data-recall capabilities at a fraction of the cost of a traditional physical security program,” Knightscope Chairman and CEO William Santana Li said. “We are honored that PG&E has entrusted us to help protect their properties, assets and employees, and we look forward to further assessing opportunities across hundreds of locations.”
In addition to serving utility companies, Mountain View, California-based Knightscope has clients in the commercial real estate, hotel, casino, corporate campus, schools, law enforcement and healthcare industries.
Knightscope is an advanced security technology company based in Silicon Valley that builds fully autonomous security robots that deter, detect and report. Knightscope’s long-term ambition is to make the United States of America the safest country in the world.
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30.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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