Farad.ai wins UKRI funding to develop AI-powered electricity grid modernisation project
Updated: Apr 19
Farad.ai, a leading clean-tech software developer, has secured government funding from the UKRI competition to deliver a tangible path to Net Zero by 2050.
Anticipating the rapid development of electric vehicles and renewable energy assets, Farad.ai presented their project of an AI-powered digital twin for the UK’s low voltage electricity grid. Farad.ai impressed the expert panel and scored an impressive 88% due to their innovative solution and their clear vision of the blockers in the industry.
The UK is committed to achieving Net Zero emissions by 2050; this will require an extensive reconfiguration of its energy system, including the integration of renewable energy and Low Carbon Technology (LCT). To handle the growth of renewable energy sources and the popularisation of electric vehicles, Farad.ai's project will map out the electricity grid with greater accuracy and allow developers to optimise the placement of renewable energy assets.
The project will build on Farad.ai's existing platform to leverage its cutting-edge technology and provide unique insights to energy distributors, local councils and LCT developers. Founded in 2019, Farad.ai secured partnerships with industry leaders and multi-billion energy companies to optimise electricity distribution at the last mile of the network. This approach has the potential to reduce energy waste by providing energy distributors with greater near real time visibility of the grid.
With its unique prediction model, Farad.ai can predict the electricity grid's regional peak load up to 93% accuracy, assisting network operators in their decision-making process to optimise distribution. The state-of-the-art technology will integrate different data sets to reduce costs for LCT developers and improve the overall efficiency of the renewable energy movement.
This is an exciting step towards a Net Zero future that is human-centred and powered by AI, building on the UK's electric capacity and environmental commitment. Farad.ai is delighted to be at the forefront of this development and to make a meaningful contribution to the UK's environmental strategy.