- Aug 19, 2019 7:39 pm GMT
- 586 views
Faraday Grid, an energy startup that sought to redefine the role of power transformers in a grid, has filed for bankruptcy. It was developing flow control devices to maintain target voltage, frequency and power factors.
According to this WSJ report, it went on a spending spree immediately after receiving a fresh round of funding from the founder of We Company. The company had been careening between CEOs for some time. I checked out its former CEO's LinkedIn profile. He had a background in design and economics. Not the optimal combination for an energy startup, probably.