Welcome!

News Feed Item

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) -- 02/04/14 -- 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.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2510356

Add to Digg Bookmark with del.icio.us Add to Newsvine

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

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
SYS-CON Events announced today that IoT Global Network has been named “Media Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. The IoT Global Network is a platform where you can connect with industry experts and network across the IoT community to build the successful IoT business of the future.
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...