13th October 2016
Faraday Grid is delighted to be announced a finalist in the global Energy Productivity Innovation Challenge (EPIC) in association with Energy Unlocked. This global initiative seeks to uncover the best ideas with potential for significant impact for energy productivity across five categories: mobility, finance, homes, buildings, and systems – Faraday Grid an Energy Systems finalist.
The COP21 meeting in 2015 in Paris marked a significant commitment to set global goals for energy efficiency targets. It was also the venue for the launch of the EPIC program.
CEO Andrew Scobie, Director of R&D Matthew Williams, and CMO Jacqui Porch were in Paris at the IEA Conference for the awards announcement on the 13th of October.
During her pitch to the International Energy Agency Ms Porch said ‘Addressing the energy trilemma at one of its root causes, the Faraday Grid resolves 50% of the variability problem.’
Faraday Grid’s unique drop-in technology for electricity networks will be developed and commercialised over the next 3 years, rolling out the technology with a number of pilot partners in multiple regions including the United Kingdom and the United States. The Faraday Grid and Faraday Exchanger technology were originally developed in Australia to resolve electricity grid instability issues brought on by increasing levels of renewable energy.
As part of establishing their UK Global Head Quarters the Faraday Grid are currently holding negotiations to finalise investment from a number of international energy companies in Europe, United Kingdom and the United States. With regard to the response to date from industry, academic and financial partners, CEO Andrew Scobie said, “We couldn’t be more pleased with the level of engagement and support we have received.”
On being announced finalists for the Energy Unlocked EPIC awards, Andrew Scobie said ‘The recognition afforded to Faraday Grid through Energy Unlocked’s EPIC awards for energy productivity innovation is priceless, and a significant contribution to resolving the energy trilemma of affordability, reliability and sustainability.’
EPIC's press release on the finalists HERE