An injection of fresh funds will allow Smarter Grid Solutions (SGS) to accelerate product development and fund its continued expansion in the UK, Europe and the US.
Founded in 2008, with shareholders including the University of Strathclyde, the Scottish Investment Bank and Scottish Equity Partners, SGS has established itself as the UK leader in the development of Active Network Management solutions (“ANM”). ANM solutions are part-distributed control technologies allowing Distribution Network Operators to manage and integrate distributed renewable energy resources into the electrical grid, without the need to build new grid assets.
SGS is already affiliated with the New York City Accelerator for a Clean Resilient Economy (NYC ACRE), located within the Urban Future Lab, NYC’s premier facility for the cleantech and energy community, supporting company formation and showcasing innovation.
Gerry Docherty, chief executive at SGS, said: “Smarter Grid Solutions is a real Scottish success story, developing from world-class research at the University of Strathclyde. We are now delivering innovative technology products that 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.”