ROCHESTER, N.Y., Jan. 24, 2014 /PRNewswire/ -- EaglePicher
Technologies, LLC ("EPT") and Arista Power, Inc. ("Arista Power")
(OTC: ASPW) announced today that they have signed a Letter of
Cooperation Agreement in which the parties have agreed to jointly
sell to Arista Power's potential customers based in New York
City. The Letter of Cooperation Agreement expands upon the
parties' previous relationship which included Arista Power awarding
a contract to EPT to supply and integrate its patented
PowerPyramid™ energy storage into Arista Power's Power on Demand
("PoD") system for a large multi-story building in New York
City. EPT's PowerPyramid™ system and Arista Power's PoD
system utilize energy storage to reduce utility costs, specifically
demand charges, and allow seamless enrollment to demand response
programs.
The Letter of Cooperation Agreement also provides that Arista
Power will target utilizing EPT's PowerPyramid™ in three of its
Power on Demand installations in New York
City in 2014. EPT also agreed to warranty the
PowerPyramid™ and component parts of those three systems. In
addition, the parties agreed to collaborate on engineering support
services, development activities and the seeking of funding
opportunities from organizations such as the Army, NREL, NYSERDA
and NYBEST.
"We are pleased to be expanding our relationship with
EaglePicher Technologies," said Adeeb
Saba, Vice President of Operations of Arista Power. "We
believe that the combination of jointly selling with EaglePicher
and the provision of a warranty by EaglePicher will greatly enhance
the ability to sell our Power on Demand systems into the NYC
market. We are also think that our joint development efforts
will lead to a more efficient PoD/PowerPyramid™ system that will
further spur the growth of both products."
Arista Power's Power on Demand system utilizes inputs from
multiple energy sources such as solar, wind, fuel cells, generators
and the grid with a custom-designed battery storage system and a
proprietary smart monitoring technology that releases energy at
optimal times to reduce electricity costs - particularly demand
charges.
EPT is a well-known leader in unique energy storage solutions,
unveiling its PowerPyramid™ hybrid solution in 2012. This patented
system surpasses conventional storage techniques by leveraging the
potential of multiple storage technologies. EPT's innovation can
manage one or more battery chemistries, providing virtually
instantaneous power to handle power deviations occurring in
intermittent renewable energy sources or grid-scale energy storage
applications.
Based in Joplin, Missouri,
EaglePicher Technologies, LLC (an OM Group company) has a lengthy
history of manufacturing state-of-the art batteries and systems for
the defense and aerospace industries, with work in recent years to
expand its expertise into other critical applications such as
energy storage solutions.
About EaglePicher Technologies, LLC
EaglePicher
Technologies, LLC, an OM Group company, is a leading producer of
batteries and energetic devices for the defense, aerospace,
medical, commercial, grid energy storage, oil, and gas industries.
The company provides the most experience and broadest capability in
battery electrochemistry of any battery supplier in the United States. Battery technologies
include lithium ion, thermal, silver zinc, nickel hydrogen, lithium
carbon monofluoride, lithium thionyl chloride, lithium manganese
dioxide, lithium sulfur dioxide, and reserve lithium oxyhalide.
EaglePicher also provides custom battery assemblies, battery
management systems, pyrotechnic devices, and other power solutions.
EaglePicher Technologies is headquartered in Joplin, Mo., and is ISO9001:2008 and AS9100C
certified. For more information, visit www.eaglepicher.com.
About OM Group, Inc.
OM Group (NYSE: OMG) is a
technology-driven industrial company serving attractive global
markets, including automotive systems, electronic devices,
aerospace, industrial and renewable energy. Its business platforms
use innovative technologies and expertise to address customers'
complex applications and demanding requirements. For more
information, visit the OM Group's website at www.omgi.com.
About Arista Power, Inc.
Arista Power, Inc. is a developer, manufacturer, and supplier of
custom-designed power management systems, renewable energy storage
systems, and a supplier and designer of solar energy systems.
Arista Power's patent-pending Power on Demand system utilizes
inputs from multiple energy sources including solar PV, wind
turbines, fuel cells, generators and the grid, in conjunction with
a custom-designed battery storage system and a proprietary smart
monitoring technology that releases energy at times to reduce peak
power demand, thereby lowering electricity costs for large energy
users who deal with peak usage pricing. Arista Power also sells a
Mobile Renewable Power Station (MRPS) that utilizes energy
generated from solar PV, wind turbines, generators, fuel cells
and/or other energy-generating devices that is stored in an
integrated onboard storage device for military and other
applications, and a stationary, scalable Renewable Power Station
(RPS) that can be drop-shipped to off-grid locations to be used as
a micro-grid. Arista Power also designs, sells and installs
residential and commercial solar PV systems. For more
information on Arista Power, visit the Company's website at
www.AristaPower.com.
In this press release, all statements that are not purely
about historical facts, including, but not limited to, payment of
dividends and those in which we use the words "believe,"
"anticipate," "expect," "plan," "intend," "estimate," "target" and
similar expressions, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of
1995. While these forward-looking statements represent
Arista Power's current judgment of what may happen in the future,
actual results may differ materially from the results expressed or
implied by these statements due to numerous important factors,
including, but not limited to, those specific risks and
uncertainties discussed in the reports that Arista Power files
periodically with the SEC. Arista Power is under no
obligation, and expressly disclaims any obligation, to update the
forward-looking statements in this press release, whether as a
result of new information, future events or otherwise.
SOURCE Arista Power, Inc.