Eriez President and CEO Tim Shuttleworth announces that the company is now the majority shareholder of FaultCurrent Ltd. Based in the United Kingdom, FaultCurrent Ltd. developed a unique passive magnetic fault current limiter called the pmFCL. Its innovative design uses permanent magnets at its core to provide a reliable, robust and energy efficient solution for electrical power grid reinforcement.
Shuttleworth says, “Making this investment in FaultCurrent Ltd. was a natural choice for Eriez as we are constantly developing and investing in breakthrough products that keep us on the cutting edge.”