World Economic Forum recognizes Smart Wires, ABB and Siemens as Top Global Innovations in Critical Infrastructure from 2010-2020
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 SmartValveTM 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.
This article accurately describes Smart Wires mission and purpose along with sharing some great news regarding growth equity financing. This funding will be used to provide growth capital as Smart Wires serves a rapidly expanding customer base – including multiple framework agreements and installations planned on four continents in 2020.