Powerstar, the market leading voltage optimisation brand manufactured in Sheffield, is pleased to announce it has been awarded a €1.65m grant from the European Union’s (EU) Horizon 2020 Innovation & Research Programme.
Seen as a means to drive economic growth and create jobs, Horizon 2020, which has the political backing of Europe’s leaders and members of the European Parliament, is at the heart of the EU’s blueprint for smart, sustainable and inclusive growth and jobs.
Powerstar was one of only 4% of companies, from nearly 700 applicants, that was successful at securing funding.
Awarded in relation to Powerstar Virtue, the recently launched innovative energy storage solution, 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.
It is understood the project will be the first of its kind in the UK.
The solution 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, which can only be good news for customers. The unique system will also allow the retailer to reduce carbon emissions, thereby going some way towards meeting their Corporate Social Responsibility targets.
The funding is further recognition of Powerstar’s credentials as being a system like no other. One that is unique in the way it manages voltage and delivers energy, as well as carbon emission savings. A solution with a patent on its design that offers innovation and development potential like no other similar technology can boast.
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.
Dr. Alex Mardapittas, managing director of Powerstar said,
“We are extremely pleased to have been awarded the funding it will be used towards the further development and commercialisation of Powerstar Virtue. 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, major retailer and Warwick University on what will be an exciting project.”
Powerstar also recently announced a further expansion into 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.