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.”
FaultCurrent’s prototype passes short-circuit fault testing at KEMA
FaultCurrent’s full scale 11kV prototype Passive Magnetic Fault Current Limiter (pmFCL) has successfully passed a series of rigorous short-circuit fault tests. The tests, undertaken at KEMA’s laboratories in the Netherlands, were performed at both 50 and 60Hz and have proven not only the concept but also the pmFCL’s suitability for global applications.
FaultCurrent completes a 3 year DECC funded development
FaultCurrent, a recipient of support from the UK’s Department of Energy & Climate Change’s Energy Entrepreneurs Fund (EEF) has successfully completed a 3 year program to build and prove the viability of a Passive Magnet Fault Current Limiter (pmFCL).
- CIRED 2015 paper: “Full-scale 11kV Fault Current Limiter for the Distribution Grid based upon zero power consumption ceramic ferrite permanent magnets”
- Download press release: “US investor backs South Wales start-up“
- Download press release: “Eriez becomes major shareholder in FaultCurrent Ltd“