WIREDGOV

A company developing a system to balance electricity supply and demand is one of 22 research projects to receive a share of £2.4 million Scottish Governmen funding.

Edinburgh-based Flexitricity Limited will receive £163,748 from the SMART:SCOTLAND awards scheme to help develop a system which enables electricity suppliers to accurately match electricity supply to demand, helping the National Grid to access electricity securely and avoid waste.

Energy and Enteprise Minister Jim Mather said that the feasibility and development projects have the potential to provide a 'real boost' to the Scottish economy.

He said:

"SMART:SCOTLAND awards can help make Scotland a more innovative and attractive place to do business - and that is especially important in the current economic climate.

"With Scotland fast becoming the green energy capital of Europe, speedy and secure transmission of electricity is becoming increasingly important.

"This award will help Flexitricity Limited develop a new computerised control system to balance supply and demand in the electricity industry - a sector of the Scottish economy continuing to go from strength to strength.

"It is one of several projects supported by SMART:SCOTLAND to stimulate innovation and technological advances and increase sustainable economic growth. And it demonstrates this Government's absolute commitment to help Scottish companies weather the challenging conditions they face and ensure our economy emerges stronger from the global downturn."

Dr Alastair Martin, founder and MD of Flexitricity, said:

"Innovation is the key to the future of the energy business. We at Flexitricity are delighted that the Scottish Government has continued to believe in our approach, and we look forward to bringing the new technology that we can now develop into the market alongside our existing operations."

SMART:SCOTLAND provides grant assistance to support technical and commercial feasibility studies and research and development projects to develop a pre-production prototype of a new product or process.

Related Information

http://www.scotland.gov.uk/Topics/Business-Industry/support/16879/smart-apr-sept-08

http://www.scottishbusinessgrants.gov.uk/rsa/998.html