Scottish smart grid firm receives £2m fund

A fund set up by Scottish Investment Bank is providing £2 million in a smart grid firm. Smarter Grid Solutions (SGS) will use the money to speed up product development and expand its […]

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A fund set up by Scottish Investment Bank is providing £2 million in a smart grid firm.

Smarter Grid Solutions (SGS) will use the money to speed up product development and expand its business globally.

SGS monitors grid locations and if measurements exceed thresholds it balances electricity flows.

This allows distribution network operators to manage and integrate renewable energy resources into the electrical grid without the need to build new assets.

Gerry Docherty, CEO at SGS, said: “We are now delivering innovative technology products which support the integration of renewable energy throughout the UK and increasingly across North America.

“This funding package, together with additional in-market support from Scottish Development International, allows us to accelerate our penetration of the fast-growing international smart grid market.”