- Press Releases
April 1 (Renewables Now) - Israel-based Synvertec Ltd, the developer of a power grid stabilisation technology, has secured USD 1.5 million (EUR 1.37m) to support its expansion to Asia and strengthen its research and development (R&D) capabilities.
The fresh funds have been provided by CLP-OSEG, a joint venture (JV) between Israeli new energy investor Other Sources Energy Group Ltd (OSEG) and CLP Innovation Ventures (Israel) Limited, a wholly-owned unit of Hong Kong-based power company CLP Holdings Limited (HKG:0002).
Synvertec has developed the Synchronverter, a proprietary software solution that works with existing inverters across the alternative and renewable energy board, and transforms them into virtual synchronous generator devices, the firm explains.
In the company’s words, the Synchronverter's control algorithm mimics the behaviour of synchronous generators in conventional generators and eliminates large fluctuations in grid frequency, voltage and power flow.
The application of the Synchronverter solution does not require inverter design changes and renewables can be safely integrated to the power grid without additional grid enhancement, according to the company.
"We are now at a stage where the question is not whether a solution such as ours is going to be needed, but rather how to successfully implement it and manage it properly," Synvertec CEO Ronny Izhak said in a statement.
(USD 1.0 = EUR 0.914)