Ideal Power to Provide Over One Megawatt of its Stabiliti™ Power Conversion System for Solar-Plus-Storage Integration in California School District
Company Collaborates with Global Technology Provider to Reduce High Electricity Costs and Enable Resilient Power
AUSTIN, Texas, July 20, 2017 (GLOBE NEWSWIRE) -- Ideal Power Inc., (NASDAQ:IPWR), an innovative power conversion technology company, today announced that it has received an order for 35 units of its compact and efficient Stabiliti™ 30 kilowatt (kW) power conversion system from an existing customer. The Stabiliti will be integrated with energy storage and solar photovoltaics (PV) at a municipal school district in Northern California, with systems to be installed at six different campus locations. The six solar-plus-storage systems will lower high electricity costs caused by time of use and demand charges, while also reducing the impact of power disruption due to grid constraints.
“In addition to reducing energy costs, solar-plus-storage systems can provide critical load support to keep government buildings, universities, schools and hospitals up and running in the event of grid outages due to rolling blackouts, brownouts or severe weather events,” said Dan Brdar, CEO of Ideal Power. “Critical load support is normally accomplished using diesel generators that may harm the environment due to emissions, require regular maintenance and expensive refueling, and can damage sensitive equipment when bringing the facility back online after a power outage. Stabiliti enables renewable energy as the school’s high-quality backup power source, dramatically reducing generator runtime and fuel use.”
In California, high energy bills are the second largest operating expense for many school districts. According to the United States Department of Energy, schools in the United States spend about $6 billion a year on energy. Solar power paired with energy storage is a powerful tool for schools to manage expenses and direct capital towards improvements to education, while also lowering their carbon footprint.
Ideal Power’s Stabiliti series is a grid-resilient 30 kW power conversion system that is available in two versions: a two-port AC-DC system for energy storage, and a versatile multi-port AC-DC-DC system that enables the direct integration of solar and storage, The Stabiliti series is used by project developers and system integrators who need to efficiently connect distributed energy resources to the grid. Key features of the Stabiliti include full galvanic isolation, grid forming capabilities for microgrid applications and a smaller footprint and weight compared to traditional power converters, resulting in lower installation costs. Stabiliti is the next generation of Ideal Power’s patented Power Packet Switching Architecture (PPSA)™ technology and incorporates new benefits for commercial and industrial customers.
About Ideal Power Inc.
Ideal Power (NASDAQ:IPWR) is a power conversion technology company that delivers efficient and compact solutions to system integrators and project developers to connect distributed energy resources to the grid. Ideal Power’s products offer enhanced performance for battery-enabled applications at a competitive cost, backed by first-rate customer service. With its patented power conversion technology, Ideal Power supports a broad set of growing markets, including solar photovoltaics, variable frequency drives, battery energy storage, mobile power, microgrids and electric vehicle fast charging. 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 our products will be able to successfully provide backup power, whether the patents for our technology provide adequate protection and whether we can be successful in maintaining, enforcing and defending our patents, whether a demand for energy storage products will grow, 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: Antenna Kalena Gravina idealpower@antennagroup.com 1.201.465.8013 www.antennagroup.com Ideal Power Investor Relations Contact: MZ North America Chris Tyson IPWR@mzgroup.us 1.949.491.8235 www.mzgroup.us
Released July 20, 2017