News Update

May 2019: Eriez Becomes Majority Shareholder of FaultCurrent Ltd

Erie, PA—Eriez® President and CEO Tim Shuttleworth announces that the company is now the majority shareholder of FaultCurrent Ltd.  FaultCurrent Ltd. was incorporated in July 2012 to develop a new generation of fault current limiters based on pioneering research and development work carried out by Dr. Jeremy Hall at the Wolfson Centre for Magnetics at Cardiff University. Early stage funding was provided by Fusion IP, now incorporated into the IP Group. Eriez-Europe Chairman Andy Lewis says, “The project attracted attention–and subsequently grants–from the Business, Energy & Industrial Strategy (BEIS) department of the UK government.”  Lewis explains, “Eriez Investments Ltd. has a majority shareholding position, having cumulatively invested a seven-figure sum in the past two years, with the IP Group and FaultCurrent Ltd. company directors and former directors holding the remaining shares.”