A commitment to invest a further GBP200,000, comprising GBP100,000 from each investor, on the satisfaction of certain key milestones has also been agreed upon. The remaining 50% of equity in Smarter Grid Solutions (SGS) will be split between the University of Strathclyde and the inventors of the technology.
The SGS technology allows generators to access power network capacity not normally available under conventional network planning requirements. The active network management technology, developed collaboratively between the University of Strathclyde and Scottish and Southern Energy (SSE) over the last five years, has led to the creation of the Orkney Registered Power Zone.
The technology is now capable of deployment on other electricity networks to increase capacity and therefore enable the deployment of further distributed generation (DG).
Alan Gooding, managing director of SGS, said: The upsurge in DG, including wind, wave and other renewable technologies has saturated available network capacity in many electricity networks. This technology will allow the cost effective connection of significantly more megawatts of renewable generation to existing electricity networks and help the UK achieve its very ambitious renewable targets.
