Ideal Power Inc., (NASDAQ:IPWR), an innovative power conversion
technology company, Azimuth Energy, a solar and wind energy and
energy efficiency engineering and construction company and Wright
Architects, a design-build firm with projects along the East Coast
and the Caribbean, today announced a solar-plus-storage project
that will provide off-grid and virtually fossil-free power to a
remote building complex in rural New York.
The companies believe that critical facilities such as military
bases, hospitals, airports, and industrial facilities, as well as
buildings in rural areas are logical choices for microgrids to
allow these facilities to continue to operate during grid outages.
For decades, one of the few backup power solutions has been the
diesel generator, which carries a heavy environmental and economic
footprint. But bringing power to remote communities and critical
facilities through a combination of clean energy and energy storage
is now a more economical solution. This is driven by the rapid
decline in battery costs, which are predicted to fall by as much as
70 percent over the next 15 years, according to a recent report by
DNV GL, PricewaterhouseCoopers and others.
Wright Architects, the project leader of a large sustainable
energy retrofit project, performed an energy feasibility study of
the facility and subsequently implemented several energy
conservation strategies to allow for better energy management. Once
the energy management goals were achieved and after discovering
that the existing utility infrastructure would not reliably support
the long term goals of the facility, a microgrid became the logical
answer to enable the facility to meet its energy, sustainability,
reliability and environmental goals as well as be grid
independent. According to Andrew Wright, President of Wright
Architects, “We searched the solar industry for the required
microgrid and integration expertise and found Azimuth Energy to be
an exceptional partner for this facility’s microgrid. We are
excited to see it being implemented.”
“We designed our Stabiliti series power conversion systems to
specifically address microgrid and backup power applications,
efficiently integrating solar and storage in a compact, flexible,
and easily deployed package,” said Dan Brdar, CEO of Ideal Power.
“As awareness continues to grow around the increasingly affordable
use of solar and energy storage based microgrids to displace the
use of diesel fuel or mitigate the impact of grid outages, we
believe that a growing number of projects like this one will come
to fruition around the world. It’s the future of distributed power
generation.”
Designed and installed by Azimuth Energy, the solar-plus-storage
project will use a microgrid site controller, and include a leading
worldwide battery manufacturer and supplier’s lithium-ion battery
modules, providing approximately 500 kilowatt-hours (kWh) of energy
storage capacity. The 300 kilowatt (kW) solar array will use Ideal
Power’s Stabiliti™ 30 kW multiport power conversion system, a
compact solution that efficiently enables bi-directional power flow
between solar, storage and the microgrid, all in one box. The
result will be an independent microgrid system that can provide
fossil-free energy at a significantly reduced cost compared to
traditional converter solutions.
“We are thrilled to lead this project, which brings together
strong technologies in microgrid controls, energy storage, solar
and power conversion to meet power quality and reliability
challenges,” said Marc Lopata, President of Azimuth Energy.
“Deploying sustainable power solutions to areas without the support
of the grid requires complex engineering and the right systems to
make it work. As we launch head-on into the age of
solar-plus-storage, we look forward to growing our partnership with
Ideal Power and expanding our innovation in microgrids and energy
efficiency integration.”
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, battery energy storage, mobile power and microgrids.
For more information, visit www.IdealPower.com.
About Azimuth Energy Azimuth Energy is an
engineering, construction, and development-support services company
focused on helping its clients improve the financial and
environmental performance of their businesses. This means reducing
their energy consumption and operating expenses, managing risk,
improving their bottom line and the value of their property
investment. Azimuth is expert at innovative and creative solutions
for renewable energy, advanced technology microgrids, and energy
efficiency integration. Originally founded in 2009, the Azimuth
team has construction, energy, and renewable deployment experience
dating back to the early 1990s. Headquartered in St. Louis,
Missouri, with five offices in the Caribbean, Azimuth has a strong
team of experts who have engineered and constructed over 500 PV
projects and 80 energy storage plants in the U.S. and overseas. For
more information, visit azimuth.energy.
About Wright Architects Wright Architects is a
Design-Build firm with projects along the East Coast and the
Caribbean. A team made of Architects, Sustainable Designers
and Construction Managers who understand the importance of
aesthetics, budgets, timing and how all the design principles
should be evaluated with a sustainable approach in mind. For
over 30 years, Wright Architects has implemented sustainable
strategies to reduce energy consumption while utilizing the latest
technology advances in the industry all to achieve monitored and
integrated systems such as geothermal, solar thermal, and solar PV
to offset electric consumption.
www.wrightarchitectspllc.com
Safe Harbor StatementAll 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, our expectations with respect to expanding our
partnership with Azimuth Energy, whether our Stabiliti series power
conversion systems will be successful, 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
Azimuth Contact:
Paul Marske
Director of US Business Development
Paul@Azimuth.Energy
1.314.502.8497
www.Azimuth.Energy
Wright Architects, PLLC Public Relationships Contact:
Michele Lerner
michelelerner@wrightarchitectspllc.com
wrightarchitectspllc.com
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