AUSTIN, Texas – September 12, 2016 – Ideal Power Inc., (NASDAQ: IPWR), a developer of innovative power conversion technologies, was selected by NEC Energy Solutions to supply its award-winning power conversion systems for select configurations of NEC’s newly launched DSS™ distributed energy storage solution. This new distributed energy storage platform targets commercial & industrial customers and includes lithium-ion batteries, advanced software controls, and Ideal Power’s power conversion systems. The DSS™ is engineered as a modular, scalable system that will be offered by NEC in an easy-to-use package for solar installers, energy services companies and other parties seeking affordable battery systems that don’t require design and engineering expertise to put to use.
“We recognized the need for scalable, robust, and flexible energy storage solutions at the grid edge that don’t have to be engineered for each specific use case,” said Roger Lin, Senior Director of Product Marketing at NEC Energy Solutions. “Ideal Power’s 30kW systems were a great fit for the DSS™ energy storage platform because they provide the performance and features we required at a cost that keeps our overall system extremely competitive.”
“NEC is a pioneer in the energy storage business with over 120 MW of its utility-scale GSS® Grid Storage Solution deployed in commercial revenue service since 2009. With their new DSS™ distributed storage solution, NEC created a flexible, turnkey energy storage system for businesses in need of a bankable, proven solution from a leading global energy company,” said Dan Brdar, CEO of Ideal Power. “The compact size, features, and lifecycle cost-effectiveness of our power conversion technology plays a key role in enabling NEC to offer a modular, scalable system at a price point that will be highly competitive in the marketplace.”
Ideal Power’s power conversion systems are based on its patented Power Packet Switching Architecture™ (“PPSA™”), a revolutionary approach to power conversion that uses 100% indirect power flow to deliver a bi-directional, fully isolated conversion while eliminating a majority of the bulky passive components, such as the separate isolation transformer and bulk capacitors, that are used in traditional power conversion systems. Ideal Power’s technology is an excellent fit for NEC’s pre-configured, outdoor-rated DSS™ systems that give end users application and size flexibility.
About Ideal Power Inc.
Ideal Power Inc. (NASDAQ: IPWR) is a technology company dedicated to advancing the efficiency of electric power conversion. The company 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 PV, variable frequency drives, battery energy storage, mobile power and microgrids, and electric vehicle charging. The Company is also developing and has patented a bi-directional, bi-polar junction transistor (“B-TRAN™”) which has the potential to dramatically increase bi-directional power switching efficiency and power density. Ideal Power employs a capital-efficient business model which enables the company to address several product development projects and markets simultaneously. For more information, visit www.IdealPower.com.
About NEC Energy Solutions
NEC Energy develops and manufactures smart energy storage solutions for electric grid, backup power and lead‐acid replacement applications with system integration expertise focusing on high performance, efficiency, safety and reliability. NEC Energy products range from compact advanced industrial batteries to massive grid‐scale energy storage systems. Its turnkey GSS® (Grid Storage Solution) products have successfully operated in commercial revenue service since 2009, while its commercial and specialty batteries provide solutions to fit the needs for telecom, IT backup, datacenter, medical, lead‐acid replacement and other industrial applications. For more information, please visit www.neces.com.NOTHING FOUND
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 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. (SPECIFIC DISCLAIMER NOTE). 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.