Smart Wires Receives Order of $15-17 M from National Grid Electricity Transmission for Extension of Existing Projects

Smart Wires Receives Order of $15-17 M from National Grid Electricity Transmission for Extension of Existing Projects

August 13, 2020

Smart Wires Technology Ltd. (“Smart Wires”) has received a Purchase Order from National Grid Electricity Transmission (“NGET”), under an existing Framework Agreement between the parties. The order has an approx. value of $15-17 M, and will be delivered to NGET in 2022.

NGET is already leveraging Smart Wires’ technology, SmartValve™, to maximise the use of their existing network across five circuits at three substation sites. The order of additional SmartValves builds on the existing SmartValve installations.

 

CONTACTS

Peter G. Wells, CEO

E-mail: peter.wells@smartwires.com

Tel: +1 (510) 340-9797

Smart Wires’ Certified Adviser is Erik Penser Bank AB, Apelbergsgatan 27, Box 7405, SE-103 91 Stockholm, E-mail: certifiedadviser@penser.se, Tel: 08-463 83 00, www.penser.se.

This information is information that Smart Wires Technology Ltd is obliged to make public pursuant to the EU Market Abuse Regulation. The information in this press release has been made public through the agency of the responsible person set out above for publication at the time stated via the Company’s news distributor Cision at the publication of this press release.

 

ABOUT SMART WIRES TECHNOLOGY LTD.

Smart Wires conducts grid technology business that helps utilize, modernize, optimize and monetize grid capacity to meet the demands and opportunities of the energy transition. The Company operates in the global transmission grid technology market and is a leader in modular power flow control technology. Power flow control technology controls and directs power flow on high voltage electric transmission systems. Smart Wires serves transmission owners, primarily electric utilities. Transmission owners use power flow controllers to eliminate line overloads by redirecting power to other lines, to reduce transmission congestion, and to enable renewable energy connection and dispatch. Currently, Smart Wires’ main projects are located in Europe, the United States and Australia with upcoming projects in South America and Canada. The Company has a large customer base comprised of utilities globally. For more information, please visit www.smartwires.com.

 

 

 

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