$288-million module deal

 

Electrovaya to deliver $288-million worth of modules

2016-06-15 11:01 ET - News Release

Dr. Rajshekar DasGupta reports
ELECTROVAYA SIGNS A LETTER OF INTENT WITH A MAJOR RESIDENTIAL ENERGY STORAGE PROVIDER FOR DELIVERY OF LITHIUM ION BATTERY MODULES FOR RESIDENTIAL ENERGY STORAGE OVER A PERIOD OF THREE YEARS FOR AN ESTIMATED TOTAL OF UP TO EURO 199 MILLION (US$ 223 MILLION)
Electrovaya Inc. has signed a letter of intent (LOI) with a global original equipment manufacturer (OEM) for the delivery of battery modules for residential energy storage with volume quantity deliveries starting early in the first quarter of 2017. Electrovaya will provide its battery modules with integrated cells and battery management systems (iBMS). Electrovaya's battery modules have unparalleled safety and cycle life performance, which is the critical performance required by the OEM.

The demand for Electrovaya's battery modules by this OEM is estimated to be up to 199 million euros ($288-million or $223-million (U.S.)) over a period of three years. High-volume deliveries are scheduled to start early in the first quarter of 2017 with smaller quantities with delivery in 2016. 

Electrovaya's technology and products are uniquely suited to the residential energy storage market as two of the critical performance parameters are highest cycle life and safety, both uniquely available from Electrovaya. This LOI was signed after intensive testing of the Electrovaya cells and modules by the OEM, who is one of the largest and fastest-growing residential energy storage companies in the world.
 
"We are very excited with this LOI as this was achieved against intense global competition," said Dr. Rajshekar DasGupta, vice-president of business development at Electrovaya. "Our multicell modules with laser-welded tabs, built-in sensors and iBMS are an attractive product for residential energy storage. Our flexible ceramic separator, Separion, imparts outstanding safety to lithium-ion batteries. This LOI further defines our path to becoming the leading supplier of lithium-ion cells and batteries to this fast-growing industrial sector of residential energy storage."
We seek Safe Harbor.

Eguana executes development contract

 

Eguana delivers first units of PCS to German customer

2016-06-13 09:41 ET - News Release

Mr. Justin Holland reports
EGUANA DELIVERS FIRST UNITS TO GERMAN AUTOMOTIVE PARTNER
Eguana Technologies Inc. has delivered first units of the power control solution (PCS) developed for its German automotive customer. The units have passed all functional testing detailed in the specification of the previously announced development contract entered into in March, 2016: Eguana executes development contract with German automotive subsidiary.

The completed PCS is on schedule for certification and on target for general availability through the company's partner in late 2016. Volume order negotiations have begun and the company expects orders to begin shipping in the fall.

"With a general product availability target within 2016 the development teams were under significant pressure to deliver a custom product in less than 90 days," commented Justin Holland, chief executive officer of Eguana. "Through a very tight collaboration this goal was achieved, functional testing was a success and the product will now be certified through the regulatory process and available this calendar year."

The identity of the battery manufacturer cannot be released at this time in order to maintain customer confidentiality and for strategic reasons.
We seek Safe Harbor.

Opus One Solutions receives Grid Edge 2016 Award – Recognized as Being on the Cutting Edge of Distributed Energy and Grid Integration

Opus One Solutions receives Grid Edge 2016 Award – Recognized as Being on the Cutting Edge of Distributed Energy and Grid Integration

TORONTO, April 13, 2016 /CNW/ – Opus One Solutions is proud to have been named as a Grid Edge 2016 Award winner by Greentech Media. The Grid Edge Awards represent the top twenty companies that have a demonstrated potential to shape tomorrow’s distributed energy system. In recognizing Opus One for its award, GTM highlighted its work with Hydro One Networks, one of Canada’s largest utilities, deploying a host of asset management and grid intelligence technologies to help it manage the growth of intermittent wind and solar power on its system. Its Distributed Energy Management and Storage Network project is taking on the distribution side of this equation.  Veridian Connections, another large utility, is also innovating with distributed energy resources in the form of two residential microgrid systems, including 10 kilowatts of solar, 14 kilowatt-hours of batteries, EV-charging systems, and the GridOS™ software platform developed by Opus One.

Opus One uses real-world electrical models and sophisticated power flow optimized state-estimation algorithms to help assess online DER interconnection impacts, DER locational marginal benefits, real-time loss calculations, and to enable the intelligent dispatch of energy storage and demand-responsive loads. Based in Ontario, Canada the company’s software is also being used in an “integrated urban community energy” project in Toronto, single-site and community microgrids, and dynamic volt/VAR optimization systems. “Opus One is thrilled to be recognized along with an impressive group of companies and projects for this award. We will continue to focus on innovative software technology to evolve the modern grid by leveraging a growing number of distributed energy resources for the benefit of end customers and electric utilities”, remarked Joshua Wong, CEO.

GTM further noted that Opus One, working with other North American utilities, is developing the information and intelligence to integrate data from various distribution automation devices, and deploying applications that provide situational awareness of the electric system. Opus One recently announced the opening of its first U.S. office at the New York City Accelerator for a Clean and Renewable Economy (NYC ACRE) and is engaged with utilities in New York State that are focused on REV, the State’s plan to reform their energy vision.

Greentech Media started the Grid Edge Awards in 2014 to identify companies that embody grid edge industry transformation. Winners include pioneers, established technology vendors, utilities, energy providers, and others who showcase innovative products, market-disrupting business models and an overall forward-looking vision.
Opus One Solutions will receive the award at Grid Edge World Forum, taking place June 21-23 in San Jose, California.

Opus One Solutions is a software engineering and solutions company with the vision of a Connected Energy Internet, delivering real-time energy management to the modern grid. Through GridOS™, its leading edge suite of offerings, Opus One delivers a new level of visibility and control to electricity distribution by solving and optimizing complex power flows. Seamlessly integrating with existing utility data systems, GridOS™ modular and scalable solutions provide powerful grid management capabilities to unlock greater potential for distributed energy resources including renewable generation, energy storage and responsive demand. GridOS™ further facilitates the management of microgrids from homes to communities for unparalleled grid resiliency and value to the electricity customer.  (www.opusonesolutions.com)