UK green tech brand secures €1.65m EU funding
09 June 2015
Powerstar, the voltage optimisation brand manufactured in Sheffield, has been awarded a €1.65m grant from the European Union’s Horizon 2020 Innovation & Research Programme.
Awarded in relation to Powerstar Virtue, the recently launched energy storage system, the funding will result in a joint project between E.ON Energy, a major UK retailer and Warwick University, to commission a 3MW installation at one of the UK retailer’s stores. Once installed the site will have the capability of becoming entirely grid independent - believed to be the first project of its kind in the UK.
The system can be integrated with on-site renewable energy generation to combine the energy saved from the voltage optimisation system with that generated from the renewable energy source. As a result, users can save by switching to the stored supply at any time they wish, as well as ensuring a constant and reliable energy supply.
In addition to allowing the retailer’s stores to become grid independent, installing Powerstar Virtue systems will help the company reduce energy costs. The system will also allow the retailer to reduce its carbon emissions.
Powerstar Virtue uses the unique, patented Powerstar voltage optimisation technology and harnesses the induced negative power feedback to the supply, to charge a storage medium. The savings achieved from the voltage optimisation system are diverted into the energy storage system to be used at a time most beneficial to the electricity user.
“We are extremely pleased to have been awarded the funding it will be used towards the further development and commercialisation of Powerstar Virtue," says Dr Alex Mardapittas, managing director of Powerstar. "Securing the funding justifies our decision to continually develop and evolve our technology solutions to meet changing market demands. We are very much looking forward to working with E.ON, the major retailer and Warwick University on what will be an exciting project.”
Powerstar also recently announced a further expansion into the USA, which is seen as a major growth market - particularly for Powerstar Virtue - signing three new distribution agreements. Whilst the company has already set up five distribution partnerships that stretch across the entire territory, it is continuing to identify further opportunities and plans to open an office in the country before the end of the year.