Energy technology company Faraday Grid has been awarded funding towards developing a device that could have a “hugely positive” impact on making the most of carbon-saving energy.
The Edinburgh-based firm received backing from Innovate UK as part of a £1 million project to help develop its Faraday Exchanger technology, a power-control device that autonomously balances voltage, frequency and power-factor control, helping the energy grid to accommodate the fluctuations in supply that come with renewable sources.
Working with organisations including the University of Edinburgh, the funding will support the project that aims to build a full-scale device and show it can increase the efficiency of any electrical generation system.
Harry Van Der Weijde, chancellor’s fellow at the University of Edinburgh, said: “From a climate change perspective, the carbon savings achieved by deploying the technology would have a hugely positive impact.”
Derek Boyd, UK marketing director of Faraday Grid, said: “We are very happy that our technology has been recognised as a critical piece of the jigsaw to enable a low carbon future.
“This funding is further endorsement of the Faraday Grid’s capability and we are delighted to be working with the ORE Catapult and the University of Edinburgh as we continue to develop a path to commercialisation.
“Faraday Grid’s technology will transform the grid into a modern and flexible system, taking advantage of the UK’s tremendous renewable generation sources.”