SMART WIRES AWARDED CONTRACT OF $29 - 31 MILLION FROM NATIONAL GRID ELECTRICITY TRANSMISSION FOR NEW PROJECTS UNDER EXISTING FRAMEWORK AGREEMENT
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