May 23, 2019   SOURCE: BusinessWire

Faraday Grid Appoints New General Counsel as It Continues Global Expansion

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.