Ideal Power Wins Electrical Energy Storage Award for Product Innovation in Integrating Solar and Storage
09 Juni 2014 - 2:00PM
Marketwired
Ideal Power Wins Electrical Energy Storage Award for Product
Innovation in Integrating Solar and Storage
AUSTIN, TX--(Marketwired - Jun 9, 2014) - Ideal Power Inc.
(NASDAQ: IPWR), a developer of a disruptive power conversion
technology, announced it has won the electrical energy storage
AWARD for its 30 kW Hybrid PV Storage Converter. Selected from
among top global leaders in the solar and energy storage industry,
Ideal Power received its award on June 4th during a ceremony at
Intersolar Europe in Munich, Germany, the world's largest
exhibition for the solar industry. Ideal Power will present
additional information on its award-winning product at Intersolar
North America, July 7-9, in San Francisco.
"We believe that the future of the multi-billion dollar solar
industry lies with combining it with energy storage, and our Hybrid
Converter product has been recognized among many top innovators
from around the world as a key innovation to enable this
cost-effective integration," said Paul Bundschuh, President and
Chief Commercial Officer of Ideal Power. "We are honored and
delighted to receive this award, which we feel validates the
potential of our technology to facilitate widespread adoption of
solar storage solutions. Our goal is to become the de facto
industry standard for this application."
The assessment criteria used by the panel of industry expert
judges examined the degree of technological innovation, the benefit
for solar industry, the environment and society, the economic
viability of the solution and proof of its innovative quality.
"Cost-effective integration of energy storage is now one of the
greatest challenges faced by the solar industry," said Dr. Andreas
Gutsch, Coordinator Competence E, Karlsruhe Institute of Technology
(KIT). "This year, around 3,500 companies from Intersolar
exhibitions around the world and the electrical energy storage
exhibition were invited to submit their innovations. Ideal
Power's technology stood out because of its ability to combine PV
and battery systems with an efficiency level of up to 97
percent. It also provides modular flexibility for different
applications, particularly in off-grid systems."
Ideal Power's hybrid converter is the first 3-port product to
leverage the Company's Power Packet Switching Architecture™ (PPSA),
which allows it to combine PV inverter capabilities on one DC port,
bi-directional battery converter capabilities on the second DC
port, and provide an AC port supporting both grid-tied and off-grid
applications. It can accomplish these functions with only a modest
increase in product size and weight over its established 2-port
battery converter and PV inverter products and with no loss of
system efficiency. Conventional technology solutions to hybrid
power conversion systems combining PV and storage require multiple
power conversion steps, thereby reducing efficiency, and multiple
power converter units, increasing size, weight and cost.
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 commercial Battery Energy Storage Systems
(BESS), electrified vehicle charging, and solar photovoltaic
generation. Ideal Power utilizes a capital-efficient business
model to commercialize our technology through the use of contract
manufacturing, product licensing, and market distribution channels.
Ideal Power has won multiple grants including one from the
Department of Energy's Advanced Research Projects Agency - Energy
(ARPA-E) to commercialize bi-directional power switches, which are
expected to improve power density by thirty percent and reduce
efficiency losses by fifty percent. For more information,
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
www.mercomcapital.com Wendy Prabhu Email Contact 1.512.215.4452
Ideal Power Inc. Investor Relations Contact: MZ North America
www.mzgroup.us Matt Hayden Email Contact 1.949.259.4986
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