Tech firm nets funds to aid energy innovation

Energy technology company Faraday Grid has been awarded funding towards developing a device that could have a “hugely positive” impact on making the most of carbon-saving energy.

The Edinburgh-based firm received backing from Innovate UK as part of a £1 million project to help develop its Faraday Exchanger technology, a power-control device that autonomously balances voltage, frequency and power-factor control, helping the energy grid to accommodate the fluctuations in supply that come with renewable sources.

Working with organisations including the University of Edinburgh, the funding will support the project that aims to build a full-scale device and show it can increase the efficiency of any electrical generation system.

Harry Van Der Weijde, chancellor’s fellow at the University of Edinburgh, said: “From a climate change perspective, the carbon savings achieved by deploying the technology would have a hugely positive impact.”