The Company Announces Open Innovation Contest For Unmanned Inspections in Extreme Heat, Improving Safety and Helping Solve $1B Problem for the Global Electric Utility Industry

ARLINGTON, Va.--(BUSINESS WIRE)--The AES Corporation (NYSE:AES) today announced the advancement of its efforts to lead transformation in the energy industry with an open innovation contest targeted at improving the safety and increasing availability of power plants through unmanned inspections in extreme heat.

Andrés Gluski, AES President and CEO, said, "AES takes our mission of improving lives seriously and recognizes that todays energy solutions must evolve to meet tomorrows needs. Engaging and collaborating with great thinkers outside our company and industry allows us to extend our internal innovation capabilities to create the best solutions for the future."

AES has a history of innovation in the industry, starting with the companys founding as one of the U.S.s first independent power producers and continuing through today as the worlds leading provider of energy storage solutions through its Advancion® product and leading user of drone-based applications in the electricity sector. The company remains committed to its efforts to turn ideas into real solutions by focusing on three areas that impact its ability to improve lives: developing a clean, unbreakable grid; creating a safer, smarter workplace; and considering the full energy value chain when seeking solutions to meet the challenges of growing communities and economies around the world.

To further its efforts to create a safer, smarter workplace, AES is launching an Open Innovation Contest in partnership with NineSigma, a company with extensive external resources and connections to accelerate innovation.

It is estimated that more than 20,000 MW of generation capacity is offline globally at all times due in part to outage-related inspections, reducing the ability of electric grids to absorb variable renewable sources like wind and solar. These outages represent $1B in lost power capacity, nearly the energy consumption in the state of Virginia every year. Electricity generation can require extreme heat conditions. When a system failure occurs that halts electricity generation and we need to inspect and repair equipment, we must wait until temperatures reach a sufficiently low level for someone with personal protective equipment to enter the confined space safely to inspect and repair the equipment. It not only can be hazardous work, but also increases the time it takes the company to begin generating electricity again.

AES is looking for innovative unmanned technologies to conduct inspection work that can resist extreme heat and keep our people safe while improving energy availability by getting plants back online more quickly. Responses and potential solutions are being requested from other companies, consultants, venture capitalists, entrepreneurs or inventors. Three winners will be recognized and rewarded at AES global Innovation Congress in July 2017 held at its Corporate Headquarters in the Washington, D.C. metro area. The company is accepting proposals through February 28, 2017.

For more information about the contest, please go to www.aes.com. #beattheheat

About AES

The AES Corporation (NYSE:AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 17 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 21,000 people is committed to operational excellence and meeting the worlds changing power needs. Our 2015 revenues were $15 billion and we own and manage $37 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.

About NineSigma

NineSigma connects organizations with external innovation resources to accelerate innovation in private, public and social sectors. NineSigma has the largest open global network of solution providers and an extensive database of existing solutions spanning numerous industries and technical disciplines. In 2015, the company was again named to the Inc. 5000 list of fastest growing private companies in America. Learn more at www.ninesigma.com or www.ninesights.com.