- Faraday Grid attends the Advanced Energy Conference in New York city this week as part of a Scottish Development International-led delegation
- In New York, Faraday Grid's technology could remove $12.4 billion USD of power quality problems, equivalent to $750 per household over the next five years
- Simultaneously, Faraday Grid's technology could also help remove 3 million tons of CO2 in New York
Systems design and energy technology company, Faraday Grid Limited (“Faraday Grid” or “FGL”), has been invited to present at New York State's tenth annual Advanced Energy Conference (AEC), taking place in New York City this week.
The Edinburgh-based company will tell delegates that its technology could remove $12.4 billion USD of power quality problems in New York – equivalent to $750 per New York household over the next five years. Furthermore, by doubling the capacity for renewable energy generation, Faraday Grid could further help to remove 3 million tons of CO2 in New York – equivalent to 583,000 cars off the road every year.
Faraday Grid is attending the conference as part of a Scottish Development International-led delegation to New York from Monday 26th to Thursday 29th March. The Mission and Learning Journey seeks to bring high-value, innovative Scottish solutions to companies and organisations looking for opportunities in the US market in Energy Systems Technologies around: Renewables Integration, Grid Optimisation, Intelligent Networks & Communication; Data Management & Analytics and the Internet of Things; Energy Efficiency; Energy Storage (heat and hydrogen) and related technologies.
Faraday Grid will also take the opportunity to introduce the US market to its network of power flow devices called Faraday Exchangers, which will provide a series of revolutionary benefits including the delivery of higher quality reliable energy at the lowest possible price for consumers.
New York has a $2.5 trillion economy and it is estimated in the New York State Energy Plan that $30 billion will need to be invested between 2015 and 2025 to replace New York’s electric transmission and distribution infrastructure to meet currently projected demands. Through its Reforming the Energy Vision (REV) programme the state is seeking to drive forward a strategy for a clean, resilient, and more affordable energy system.
Richard Dowling, Chief Economist and Head of Government Affairs at The Faraday Grid, said: “Faraday Grid is thrilled to be joining Scottish Development International on the Energy Systems Mission and Learning Journey to New York and speaking at AEC 2018. It provides us with the ideal opportunity to showcase our locally developed energy platform to the biggest energy market in the world. We have ambitious plans for the U.S. market and plan to open our first U.S. office later this year.”
Ewen Cameron, Head of Trade & Investment, Energy at Scottish Development International, said:
“The USA is an extremely important market for Scotland and New York’s Reforming the Energy vision programme has potential opportunities for partnership and collaboration for Scottish companies. I am delighted to hear that Faraday Grid have great plans for the market. The Mission and Learning Journey will help them fully assess the market opportunity and where their products can add value. I wish them every success on the mission and in their future plans.”