Smart Wires Technology Ltd. ("Smart Wires") today announced it has signed a Contract with National Grid Electricity Transmission plc ("NGET") for new projects, under an existing Framework Agreement between the parties. This contract will have a net revenue of approximately $29 - 31 million in 2024.
NGET has been using Smart Wires' digital power flow control technology - SmartValve™ - for several years to maximize the use of its existing network and unlock up to 2 GW of extra grid capacity. These new projects will use SmartValves on two more circuits in England to release additional capacity on the network for the integration of new renewable energy and the North Sea Link interconnector.