Press release

Faraday Grid Appoints New General Counsel as It Continues Global Expansion

0
Sponsored by Businesswire

Global energy technology company Faraday
Grid
has appointed Nathan Fagre as General Counsel. He joins the
company as it continues to dynamically scale its presence globally and
follows the launch of Faraday Grid’s Innovation Center in Washington
D.C. in March 2019.

Nathan has more than 25 years’ experience as a General Counsel in a
range of industries including energy, global manufacturing, and
retail/e-commerce. His areas of expertise include major corporate
transactions; securities offerings and financings; worldwide regulatory
compliance programs; and corporate governance.

Before joining Faraday Grid, Nathan served as General Counsel of
Spectrum Brands Holdings, Inc., a global consumer products company with
manufacturing and commercial operations in North America, South America,
Europe and Asia-Pacific. Prior to this, Nathan was General Counsel of
the international oil and gas operations of Occidental Petroleum
Corporation and had served as General Counsel of ValueVision Media.

“Faraday Grid’s mission is to transform the energy system into one that
delivers reliable, affordable and clean energy to everyone,” said Andrew
Scobie, Founder and CEO of Faraday Grid
. “It is a testament to our
mission that executives with deep expertise such as Nathan are joining
our growing team. Nathan’s track record and experience will be of
immense value to us as we continue to rapidly scale.”

“Faraday Grid is dedicated to addressing the growing challenges in the
electrical grid systems worldwide,” said Nathan Fagre, General
Counsel of Faraday Grid
. “I am excited to be joining this talented
team as we work to enable a future of sustainable and efficient energy
systems.”

About Faraday Grid Limited:

Faraday Grid was formed from the desire to solve global challenges
facing our society and environment. The company is dedicated to
reimagining global energy systems to enable sustainable prosperity for
all. Specifically, with innovation in deep tech, Faraday Grid is
revolutionizing electricity networks. For more information, see www.faradaygrid.com
or @TheFaradayGrid.

The Faraday Grid platform:

  • The Faraday Grid has the potential to do for energy what the internet
    did for communication – utilizing existing networks to unleash a
    radically new system. This grid would be enabled by Faraday Exchangers
    in the same way that the router enabled the internet.
  • The Faraday Grid is a revolutionary design for electricity
    distribution which allows power to flow bi-directionally to anyone
    anywhere across a network, unlike existing one directional networks.
  • It autonomously and continuously adapts to variations throughout the
    network, creating a highly stable system capable of managing major
    fluctuations in supply and demand.
  • Implemented at scale in a network, Faraday Grid’s simulations (see: www.faradaygrid.com/publications)
    demonstrate that the Faraday Grid can:

    • Double a grid’s capacity for hosting distributed energy to 60%.
    • Increase a grid’s capacity for hosting variable renewable energy
      overall to over 80%.
    • Reducing the need for complex and costly back up generation and
      balancing services (by improving grid stability and flexibility).
    • Increase overall network carrying capacity by an average of 25%.
    • Reduce network losses by up to 34%.
    • Ultimately, this will make buying and using electricity easier,
      cheaper and more reliable than it is today – for everyone.
    • It can be incrementally deployed, making it a scalable,
      economically viable solution for large-scale electricity grids,
      smart cities, smart buildings and electric vehicles.

The Faraday Exchanger technology:

  • The Faraday Exchanger is an autonomous hardware device which operates
    in isolation and independent of any central network management. It
    replaces the function of existing electricity network infrastructure –
    transformers, converters, inverters and rectifiers.
  • It is complementary to existing distribution networks and other
    technologies, improving performance and efficiency whilst being
    significantly cheaper than the sum of the technologies it replaces.