Eos Energy Storage Selects Ideal Power Battery Converter to Demonstrate AC-Integrated Energy Storage System With Con Edison i...
04 Februar 2014 - 1:30PM
Marketwired
Eos Energy Storage Selects Ideal Power Battery Converter to
Demonstrate AC-Integrated Energy Storage System With Con Edison in
NYC
NEW YORK, NY and AUSTIN, TX--(Marketwired - Feb 4, 2014) - Eos
Energy Storage, a developer of cost-effective energy storage
solutions, and Ideal Power Inc. (NASDAQ: IPWR), a developer of a
disruptive power conversion technology, today announced that Eos
has selected Ideal Power's 30kW battery converter technology to be
integrated with its Aurora energy storage system. This system will
be connected to the grid and deployed by Con Edison in a New York
City pilot project in the second quarter of 2014.
The Aurora system employs Eos's safe, low-cost zinc hybrid
cathode (Znyth™) battery technology and is designed to enhance
renewable energy generation, increase the grid's efficiency and
resiliency, and reduce utilities' costs and consumers' electricity
bills. The compact modular design of both the battery pack and
power converter is uniquely suited for office buildings and
facilities with space-constrained environments.
"We have successfully tested Ideal Power's 30kW battery
converter with our Aurora system to demonstrate bi-directional AC
power flow and have been very pleased with the results," said
Michael Oster, CEO of Eos Energy Storage. "Based on this
performance, Eos has selected Ideal Power for the multi-kW scale
distributed energy storage system to be installed at a Con Edison
site."
Eos's low-cost Aurora battery system is designed specifically to
meet the requirements of the grid-scale energy storage market. With
many hours of discharge capability, immediate response time, and
modular construction, the Aurora system may be scaled and
configured to maximize profitability in utility, commercial and
industrial, and residential market segments.
"We are pleased to support the innovative work by Eos and to be
selected for the pilot project with Con Ed. This represents an
opportunity to demonstrate our complementary technologies and to
create a best-in-class AC-integrated energy storage system," said
Dan Brdar, Chairman and CEO of Ideal Power.
Ideal Power's 30kW battery converter offers high efficiency in a
compact, modular and easy-to-install solution that can improve the
economics for energy storage applications. It is based on the
company's patented Power Packet Switching Architecture™ (PPSA) that
provides electrical isolation without the use of a bulky and
expensive transformer. Among the many benefits of PPSA is the
unique capability to reduce the size, cost, and efficiency loss
associated with conventional systems.
Eos enters 2014 after a year of meeting aggressive development
and prototyping goals. It completed its first AC-integrated system,
putting the company's Znyth™ battery technology on track to achieve
its $160/kWh commercial cost and performance targets. Ideal Power
begins the year on the heels of a successful IPO and plans to begin
shipping commercial samples of its next-generation 3-Port Hybrid
Converters in 2014. The demonstration project with Con Edison is
supported by funding from the New York State Energy Research and
Development Authority (NYSERDA).
About Eos Energy Storage
Eos is developing a low-cost energy storage solution for
electric utilities, with additional applications in commercial and
industrial, telecom, and residential markets. Eos's mission is to
produce safe, robust, cost-effective energy storage solutions that
are less expensive than incumbent alternatives, such as gas
turbines for power generation. Eos is located in Edison, NJ, and
New York, NY. More information is available at
www.eosenergystorage.com.
About Ideal Power Inc.
Ideal Power Inc. (NASDAQ: IPWR) has developed a novel, patented
power conversion technology called Power Packet Switching
Architecture™ (PPSA). PPSA improves the size, cost, efficiency,
flexibility and reliability of electronic power converters. PPSA
can scale across several large and growing markets, including solar
photovoltaic generation, electrified vehicle charging, and
commercial grid storage. Ideal Power also has a
licensing-based, capital-efficient business model that can enable
it to address these markets simultaneously. Ideal Power has won
multiple grants for its PPSA technology, including a $2.5 million
grant from the Department of Energy's Advanced Research Projects
Agency - Energy (ARPA-E) program, and market-leading customers are
incorporating PPSA as a key component of their systems. For
more information on visit www.IdealPower.com.
Safe Harbor Statement
All statements in this release that are not based on historical
fact are "forward looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and the provisions
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
While management has based any forward looking statements included
in this release on its current expectations, the information on
which such expectations were based may change. These forward
looking statements rely on a number of assumptions concerning
future events and are subject to a number of risks, uncertainties
and other factors, many of which are outside of our control that
could cause actual results to materially differ from such
statements. Such risks, uncertainties, and other factors include,
but are not limited to, whether the patents for our technology
provide adequate protection and whether we can be successful in
maintaining, enforcing and defending our patents, whether demand
for our products, which we believe are disruptive, will develop and
whether we can compete successfully with other manufacturers and
suppliers of energy conversion products, both now and in the
future, as new products are developed and marketed. Furthermore, we
operate in a highly competitive and rapidly changing environment
where new and unanticipated risks may arise. Accordingly, investors
should not place any reliance on forward-looking statements as a
prediction of actual results. We disclaim any intention to, and
undertake no obligation to, update or revise forward-looking
statements.
Ideal Power Media Contact: Mercom Communications Wendy Prabhu
1.512.215.4452 www.mercomcapital.com Email Contact Eos Energy
Storage Media Contact: Eos Energy Storage Philippe Bouchard
1.212.628.7191 http://www.eosenergystorage.com Email Contact Ideal
Power Inc. Investor Relations Contact: MZ North America Matt Hayden
1.949.259.4986 www.mzgroup.us Email Contact
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