ACE and ElectronVault partnership to rapidly grow U.S. solar energy storage revenue
Lowell, MA and Woodside, CA, April 15, 2015 – Pioneering cleantech companies American Capital Energy, Inc. (ACE) and ElectronVault, Inc. today announced a broad technical partnership to speed and enlarge energy storage capabilities in existing and future solar projects that ACE develops, operates and/or finances.
Under the terms of the agreement, ACE will promote ElectronVault energy storage systems and technology for future renewable project tenders as well as ACE owned or operated renewable site energy storage retrofit opportunities in the United States.
In addition to systems and technology, the agreement also gives ACE customers access to
ElectronVault energy optimization services:
• Generation analysis for maximizing project revenues, minimizing fixed costs, and managing project performance risks
• Load analysis for improving ratepayer economics as well as existing or proposed projects
• Site analysis to ensure comprehensive quantification of project finance risks and opportunities
• Site instrumentation to add storage capabilities in existing solar production environments
ACE currently has over 115 MW of projects developed and/or installed and 110 MW of projects under construction or in development; the company has completed projects in fourteen U.S states. Over 2 GWh of energy storage is currently deployed around the world with ElectronVault technology.
According to Tom Hunton, co-founder, president and CEO of ACE, the two companies will to work together to identify and deploy the most commercially viable pilot project in the near future. “We are currently reviewing a number of ACE-operated solar sites to grow energy storage capacity—and believe that new ACE customers will want to take advantage of ElectronVault technology, which can reduce spinning reserve requirements in demanding renewable integration environments,” he said.
ElectronVault co-founder and CEO Rob Ferber also said that ElectronVault will provide several technical services to existing ACE customers. “We’re pleased that ACE will promote ElectronVault as its preferred storage technology so its customers can move beyond peak energy and focus on peak value,” he said. “We look forward to providing technical support for retrofitting optimal storage capabilities based on our patented technology and industry-leading site analysis services designed to maximize renewable energy revenue.”
In addition to the technical provisions of the agreement, the two companies have also agreed to embark upon an aggressive co-marketing relationship.
About American Capital Energy, Inc.
Founded in 2005 and with more than 115 MW of solar PV projects developed, installed, and operating around the country, American Capital Energy is a proven veteran of the solar industry. The company’s expertise covers commercial rooftop solar PV systems; grid-connected, ground mounted, utility-scale projects; solar thermal (hot water) energy systems, fuel cells, and energy storage. With projects in 14 states from New England to California, the company is the market leader in solar PV systems on landfills and brownfields and working with the municipalities that own the land. These systems bring new value to under-utilized land that benefits the municipalities, taxpayers, and municipal utilities or electric cooperatives. ACE can navigate the complex engineering, permitting, and financing requirements of these projects.
About ElectronVault, Inc.
ElectronVault, Inc. of Woodside, CA invents and licenses technologies that enable large-scale battery systems to be manufactured, sold and serviced at mass-market price targets.
ElectronVault Battery System Platform™ technologies are used in electric vehicles (two-wheel, four-wheel and mass transit), as well as infrastructure (grid-tied and off-grid) energy storage applications. The company has electric vehicle and remote power battery systems deployed in Asia, Africa, Europe and North America.
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