NorthStar, the Swedish-American energy storage provider owned by private equity firm Altor, was awarded the Sally Miksiewicz Innovation award at the BCI conference in Florida on May 1.

The award was handed to CEO Hans Lidén for NorthStar’s ACE remote management solution, an Internet of Things system that connects batteries to a cloud portal, thereby allowing the user to access and manage battery data.

By being better able to measure the energy status of batteries, costs can be saved by avoiding prematurely replacing batteries, whether they are in storage or already installed.

“Each battery can operate up to 40% longer if replacement is based on actual battery health rather than a fixed schedule,” said the company. “Other significant savings come from correct installation and easy identification of unhealthy batteries.”

The seven criteria for the award that entrants have to meet are sustainability; safety; cost; performance; detail; uniqueness; value; and quantifiability.

The company estimates that up to $700 million a year could be saved by making more efficient use of batteries in remote sites.

The Sally Miksiewicz Innovation award is only in its second year.