DGAP-News: RIB Software SE (RIB) signs a Phase-II-contract (No. 22 / 2018) with American Electric Power (AEP)

19-November-2018

RIB Software SE (RIB) signs a Phase-II-contract (No. 22 / 2018) with American Electric Power (AEP)

Memphis, Tennessee, 19 November 2018. RIB Software SE, the world's leading provider of iTWO 5D BIM Big Data technology, today announced the conclusion of a Phase-II-contract with American Electric Power (AEP), one of the largest electric utilities in the United States.

AEP, which currently serves nearly 5.4 million customers across 11 states, is dedicated to growing its clientele while also creating the infrastructure needed for electric reliability and economic growth. To support this goal, AEP will deploy iTWO 4.0 technology to facilitate collaborative cost planning and management for both discrete and program projects across seven regional operations.

Headquartered in Columbus, Ohio, AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000-mile (63,000 km) network - more than all other U.S. transmission systems combined.

AEP plans to expand in a number of ways, without compromising the quality of services provided. Sophisticated digitalization will be exponentially more important as they maintain their position as a top utility while also executing additional initiatives, including a plan to reduce carbon emissions by 80 percent by 2050.

Through AEP's multi-dimensional growth, a single virtual planning platform will be vital for long-term success.

"With a long history of technological innovations, we see AEP as the perfect partner for RIB," Mickey A. Carr, RIB Americas CEO said. "AEP recognizes the upcoming growth in the power utility sector, fueled by the need to build more reliability, redundancy, and capacity into our systems. We believe that the iTWO 4.0 technology will facilitate their position as leaders in the utility space. iTWO 4.0 will enhance digitalization and industrialization so that AEP will work better with communities as a renewable electricity generator, regulator and also as a provider of other utilities to design and build tomorrow's energy solutions."

About RIB Group

RIB Software SE is an innovator in construction business. The company creates, develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. Its flagship product iTWO 4.0 is the world's first 5D BIM enterprise cloud solution with AI integration for construction companies, industrial companies, developers and project owners, etc. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With 1000 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.