Global energy technology company Faraday Grid Ltd announced its formal launch into the United States. The company held its official launch event and the announcement of its U.S. operations with a high profile event for key U.S. energy industry experts at the Andrew Mellon Auditorium in Washington.
Faraday Grid has announced an agreement with the UK’s leading distribution network operator, UK Power Networks, for it to trial the world’s first Faraday Grid, a ground-breaking technology that could redefine how the electricity grid works. The agreement will see the world’s first Faraday Exchangers deployed in UK Power Network’s existing London network for live testing in spring 2019.
Faraday Grid attends the Advanced Energy Conference in New York city this week as part of a Scottish Development International-led delegation to present its techology. In New York, the Faraday Grid could remove $12.4 billion USD of power quality problems - equivalent to $750 per household over the next five years - while helping to remove 3 million tons of CO2.