FaultCurrent, a Cardiff University Spinout, has secured further funding to support commercial development. The funding was provided by the founding investor, IP Group PLC, and the UK Government’s Energy Entrepreneurs fund.
The spin-out has developed a device which protects power systems from disruption and damage to network infrastructure. It uses magnetics technology to allow the existing power grid to cope with excessive fault conditions. The device only reacts when excessive fault currents are detected, inhibiting the flow to allow the existing power network protection systems to safely isolate the problem.
The funding will support FaultCurrent’s ambition to grow as a global business.
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