Edinburgh firm Faraday Grid has agreed a partnership with the World Energy Council as an Innovation Supporter.
The energy technology company will collaborate with the the UN-accredited council on how to maintain a reliable supply of electricity for all as the world becomes more dependent on diverse sources of renewable power.
Faraday Grid founder and chief executive Andrew Scobie said: “To achieve sustainable energy and prosperity for all, we need an energy system fit for the future. This means our thinking and solutions need to be truly innovative and transformative. Faraday Grid’s partnership with the World Energy Council is an expression of our commitment to achieve clean, reliable and affordable energy.”
Faraday Grid says its technology can “do for energy what the internet did for communication”, with FaradayExchangers taking the role of the router.
Its grid allows power to flow in both directions across a network, unlike existing one-directional networks. It aims to constantly adapt to major fluctuations in supply and demand for electricity, increases capacity for carrying renewable energy and making it cheaper for consumers.
Christoph Frei, secretary general and CEO of the World Energy Council, said: “We’re in the midst of an unstoppable digital revolution which is having a transformational impact on the way we use and produce energy.
“The World Energy Council is constantly strengthening its tools and insights to support a smooth energy transition and learning from leading innovators is critical to deepen our understanding on how new business models and technologies can shape our energy future.
“We look forward to working closely with Faraday Grid over the coming years as we tackle the issue of secure, affordable and sustainable energy for all.”
