Award Archives - Smart Wires Inc.

Smart Wires named to Inc. 5000 List of Fastest-Growing Companies

Inc. Magazine Names Smart Wires to Annual List of America’s Fastest-Growing Private Companies – the Inc. 5000

August 12, 2020

Inc. magazine revealed that Smart Wires is number 614 on its annual Inc. 5000 list. Smart Wires earned this ranking with a three-year revenue growth rate of 762 percent. This list of America’s most successful private companies first debuted in 1982 and has since become a symbol of entrepreneurial success.

Microsoft, Dell, LinkedIn, Yelp, Zillow, Patagonia and many other well-known names gained early exposure as honorees on the Inc. 5000.

“We are honored to be included on the Inc. 5000 List,” said Gregg Rotenberg, Smart Wires CEO. “Our rapid growth is attributed to global leaders in the electric sector embracing our technology to quickly unlock gigawatts of new capacity on their existing grids, by intelligently routing power to travel across underutilized transmission lines.”

“We are proud to partner with electric utilities to accelerate a low-cost path to global decarbonization by dramatically increasing the delivery of electricity through today’s existing power grids.”

“We have lined up over a billion dollars of project opportunities over the next several years where our technology will enable many gigawatts of new renewable energy projects to reach the grid.”

Smart Wires develops and implements innovative technologies that advance the delivery of electricity. With these solutions, electric utilities can maximize transfer capacity on their grids. This is necessary for rapid decarbonization at the lowest cost with the least disruption to communities and the environment.

In addition to being acknowledged by Inc. 5000, the World Economic Forum recognized Smart Wires as a 2020 Technology Pioneer and SmartValve™ technology as one of the energy sector’s most influential innovations of the last decade.

Further Information

The companies on the 2020 Inc. 5000 have been very competitive within their markets, and the list as a whole shows staggering growth compared with prior lists. The 2020 Inc. 5000 achieved an incredible three-year average growth of over 500 percent, and a median rate of 165 percent. The Inc. 5000’s aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs over the past three years.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

“We are proud to partner with electric utilities to accelerate a low-cost path to global decarbonization by dramatically increasing the delivery of electricity through today’s existing power grids.”

Gregg Rotenberg

Chief Executive Officer

About Inc. Media

The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

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World Economic Forum recognizes Smart Wires, ABB and Siemens as Top Global Innovations in Critical Infrastructure from 2010-2020

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World Economic Forum report recognizes key critical infrastructure innovations from Smart Wires, ABB and Siemens

May 27, 2020

Today’s report from the World Economic Forum’s International Energy Community in China has highlighted Smart Wires SmartValve^TM as one of the energy sector’s influential innovations during the last decade. Winners were chosen based on several criteria including their benefit to society and contribution to accelerating the energy transition.

“Smart Wires is honored that our solutions were included on a very short and prestigious list of technologies recognized as critical enablers of the energy transition,” said Gregg Rotenberg, Smart Wires CEO.

Suleman Alli, director of strategy at UK Power Networks, said: “As the first network operator in the UK to trial the Smart Wires’ power flow control technology, we are delighted to see it recognized by this World Economic Forum report. Trialling smart solutions like load balancing highlights our commitment to unlocking new capacity for renewable energy safely, cost effectively and quickly.”

Smart Wires was recognized for its ability to maximize the grid’s transfer capacity which is necessary to enable rapid, low-cost and large-scale connections of new renewables.

Rotenberg reflected, “It is remarkable how much spare capacity exists on today’s grids. We regularly find projects where we can release several gigawatts of capacity in under a year without disturbing communities or the environment.”

“SmartValve is our solution to maximize the grid’s transfer capacity. This technology is causing leading utilities across Europe, Australia and the Americas to change the way they think about future investments in critical infrastructure,” Rotenberg said.

Further Information

Submissions were evaluated by a panel of experts from the US, Europe, China and Africa. Selected submissions were grouped into six categories: Critical Infrastructure; Emission Reductions; Energy Efficiency; Systemic Efficiency; Renewables Integration; and Access to Electricity.

Smart Wires, ABB and Siemens were highlighted in the Critical Infrastructure category.

“Smart Wires is honored that our solutions were included on a very short and prestigious list of technologies recognized as critical enablers of the energy transition”

Gregg Rotenberg

Chief Executive Officer

“Transmission and distribution grids are the backbone of the entire electricity network. Radical changes [from the supply and demand perspective] require our critical electricity infrastructure to be more flexible and agile than ever before, without compromising on power security, reliability, efficiency or affordability. Innovative grid technologies are playing a key role in addressing energy transition-related opportunities and challenges,” the report says.

ABB was recognized for advances in High Voltage Direct Current (HVDC) technology, supporting the integration of large-scale renewables, off-shore wind farms and cross-border interconnections.

Siemens was recognized for its Modular Multilevel Converter (MMC) technology, representing a technological breakthrough when connecting large offshore wind parks to the grid.

These innovations have proven themselves over the past decade and will continue to be pivotal to enable a successful, low-cost and low-impact energy transition.

About World Economic Forum: The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).

About UK Power Networks: UK Power Networks is the country’s biggest electricity distributor, making sure the lights stay on for more than eight million homes and businesses across London, the South East and the East of England. Network operators aren’t the same as energy suppliers; network operators manage local power lines and substations, while energy suppliers sell the electricity that runs through the power lines. UK Power Networks continues to be listed in the Sunday Times’ Top 25 Best Big Companies to Work For, and made industry history by becoming first company to win Utility of the Year two years running (2015 and 2016, also 2012).

The company invests more than £600 million in its electricity networks every year, offers extra help to vulnerable customers at times of need, and is undertaking trials to ensure that electricity networks support the transition to a low carbon future. It also moves cables and connects new electricity supplies. If you have a power cut ring 105, see www.ukpowernetworks.co.uk or tweet us @UKPowerNetworks

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LoadShare Project wins IET Innovation Awards

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Loadshare project wins IET innovation awards

December 4, 2019

LoadShare, a joint project between Smart Wires and UK Power Networks, has won the Power and Energy category, and received Highly Commended in the Sustainability and Environmental Impact category, at the prestigious Institution of Energy and Technology (IET) Awards in London.

The IET Innovation Awards recognize and celebrate the very best new innovations across science, engineering and technology, from around the world.

LoadShare uses Smart Wires’ state-of-the-art technology to increase the utilization of UK Power Networks’ existing lines –resolving a pinch point near the Essex/Suffolk border, and allowing more electricity generated from renewable sources to feed into the system –without building costly and disruptive new electrical cabling and substations.

This project has freed up 95MW of additional network capacity –enough to power 45,000 homes with renewable energy–and has saved UK Power Networks’ customers £8 million compared with traditional means of network upgrades.

SmartWires’ European Managing Director, Michael Walsh said: “Smart Wires is incredibly proud to have received recognition with UK Power Networks for this impactful project.”

“UK Power Networks was incredibly impressive to work with, and by pursuing projects like this, the company shows its commitment to its customers, the energy transition, and a greener, better future,” said Mr. Walsh.

“Smart Wires’ power flow technology is a game-changer in the energy industry and is changing the way grid operators across the world think about integrating renewables.

Michael Walsh

Managing Director - Europe

Speaking about the importance of the LoadShare project to UK Power Networks and its future vision, the company’s Director of Asset Management, Barry Hatton said: “UK Power Networks’ vision for the future grid is to be a facilitator. We want to make sure that anyone who wants to connect low carbon technologies can do so.”

“UK Power Networks will achieve its vision through good people, good processes, good technology, and working with innovators to ensure any opportunity out there to make this happen is realized,” he said.

Mr. Walsh added: “Smart Wires’ power flow technology is a game-changer in the energy industry and is changing the way grid operators across the world think about integrating renewables. By enabling utilities to control where power flows on their networks, they can now integrate new generation more efficiently and at a lower cost and impact to consumers.The work UK Power Networks has done with LoadShare is a perfect example of the impact this technology can have.”

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Technology powers 45,000 homes with renewable energy

Smart Wires Wins Innovation in Technology Award from Irish Wind Energy Association

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Smart Wires Wins Innovation in Technology Award from Irish Wind Energy Association

February 1, 2019

A revolutionary power flow control system which can significantly increase the amount of renewable energy that the electricity grids can accommodate, has won the Irish Wind Energy Association’s (IWEA) Innovation in Technology award.

SmartValve^TM, which was developed by pioneering power technology company, Smart Wires, helps electric utilities integrate renewables more efficiently and at a lower cost to consumers by controlling where power flows on the network.

SmartValves enable operators to control the characteristics of power lines so they can push power off overloaded lines or pull power on to under-utilised circuits. This means they can capture the excess capacity that exists on their grids today.

“SmartValve is a game changer in the energy industry,” said Smart Wires Managing Director – Europe, Michael Walsh. “This technology allows electricity companies to route power around the existing grid, reducing the need for new lines,” he said.

“Importantly, it can be delivered and installed in weeks, allowing grid companies to respond much faster to the needs of generators, customers and communities.”

“Power flow control is not new, but Smart Wires innovative technology is providing the industry with an incredibly flexible and high-impact solution, which ultimately delivers a faster, cheaper and better way to plan and operate power systems,” he said.

Ireland’s transmission system operator, EirGrid, saw the potential for this innovative technology to help meet the future needs of the grid, and is the world’s first utility to use SmartValve.

“The success of our joint project with EirGrid is starting to change the way grid operators across the world think about integrating renewable generation,” said Mr Walsh.

“We are now working with utilities across the globe, from the US to Australia and throughout Europe, to help them revolutionise their existing grid systems.”

Speaking after the presentation, Irish Wind Energy Association CEO, Dr. David Connolly, remarked,
“In Ireland we have a proud history of leading the world in integrating high volumes of renewable energy.

“We see first-hand many of the challenges the world will face as we intensify the fight against climate change. The availability of new technology like SmartValve gives me great optimism that we will be successful,” he said.

“It tackles the current limits on our ability to use all of our existing grid capacity, and that is one of the most important challenges we face,” said Dr Connolly.

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Smart Wires named one of the 50 fastest growing companies by the Silicon Review

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Smart Wires was featured by the Silicon Review in their annual 50 Fastest Growing Companies for 2018. Click here to read the full article, “Smart Wires Inc. — Powering the Future”

“Smart Wires’ most important assets combine to form a perfect storm,” says Gregg Rotenberg, CEO & President, Smart Wires, Inc. “We invest three times more than the industry norm in finding top talent. As a result, we are consistently securing incredible additions to our team.”

Smart Wires receives Clean Tech award at the 2018 East Bay Innovation Awards

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Smart Wires receives Clean Tech award at the 2018 East Bay Innovation Awards

March 29, 2018

Smart Wires is proud to accept the 2018 East Bay Innovation Award for Clean Tech! Paul Phillipsen, Sr. Vice President of Design Commercialization, was in attendance to accept the award. Over 100 East Bay companies and organizations were nominated across Alameda and Contra Costa counties. The Clean Tech category included products, services and processes that harness renewable materials and energy sources, dramatically reduce the use of natural resources, and cut or eliminate emissions and wastes.

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Smart Wires named one of the 50 fastest growing companies by the Silicon Review

Smart Wires Named One of “50 Best Companies to Watch”

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Smart Wires was featured by the Silicon Review in their annual “50 Best Companies to Watch” edition for 2017. Please click here to read the article, “Providing quality and innovative solutions to the transmission industry: Smart Wires.”

“Smart Wires changes the game because we allow utilities to quickly and inexpensively unlock the massive transfer capacity that can be captured in the grid that they already built.”

– Smart Wires CEO Gregg Rotenberg