Last week I was proud to take part in a groundbreaking event for the energy industry, when together with colleagues at the Faraday Grid, we held the first live, public demonstration of our Faraday Exchanger prototype.
Over 150 energy experts, scientists and academics joined us at the National Museum of Scotland to witness our exciting technology for the first time.
I joined Faraday Grid only recently but I knew that I was joining a company offering something special. To see such a turnout at the prototype launch is a testament to the significance of our technology and the applications it can enable.
The current energy system is unable to take on the level of renewables needed to meet our climate change commitments. Our technology, enabled by the Faraday Exchanger device, is able to dramatically increase the amount of renewable energy in the grid, reduce carbon emissions and reduce the cost of energy to consumers.
One Faraday Exchanger by itself is impressive. But when you deploy multiple units across a grid you get a Faraday Grid – a network of Exchangers with the capacity to autonomously talk to each other and move electricity efficiently through the system. They can utilise information signals which means we can trade that electricity to and from homes, micro grids and solar farms, and combine with storage and generation.
This unlocks the internet of energy.
It means we can save billions of dollars’ worth of electricity that’s currently being wasted.
It means we can enable a lower carbon economy while sustaining growth and living standards.
It means we can solve two of the greatest challenges in the energy system today: intermittency and volatility.
This is something that physicists and electrical engineers have been frustrated by for over a century.
We have now demonstrated the solution. And I’m delighted to be a part of it.