Ozop Energy Solutions (OZSC) Announces Stem Smart Energy Storage 2MW / 4MWh Project in New York City
August 18 2021 - 9:30AM
Ozop Energy Solutions (OZSC), (“Ozop” or “the Company”), a
premier multi-vertical energy holding company, announced today that
its wholly owned subsidiary, Ozop Energy Systems, Inc., will
deliver a 2 megawatt (MW) / 4 megawatt hour (MWh) smart energy
storage project with Stem, Inc. (NYSE: STEM), a global leader in
artificial intelligence (AI)-driven energy storage services, to one
of its commercial property customers in the Borough of Brooklyn,
New York. The project will optimize revenues under the state’s
Value of Distributed Energy Resources (VDER) tariff that
compensates distributed resources on a varying hourly basis for the
specific benefits provided to the grid.
The front of meter energy storage system will be
driven by Stem’s Athena® intelligent software solution, a platform
which uses AI to optimize the value of energy through battery
discharge and recharge cycles. Utilizing Stem’s AI-driven storage
is also the next step in Ozop’s patent-pending energy storage
technologies, allowing the storage system to deliver critically
timed energy to the grid as the New York City utilities demand
requires it. These Ozop storage systems contribute to carbon offset
programs by reducing the need for spinning reserves, an expensive
but necessary support feature of the utilities. Carbon offset is
the value calculation of an indirect reduction in a given
footprint.
The Brooklyn facility will be Ozop’s first
project to utilize Stem’s smart energy storage within the Company’s
portfolio of commercial properties in several key states: New York,
California, Texas and Arizona. It is expected that New York, in
particular, will need more energy storage to meet its goal of
reaching 3GW of storage by 2025 with 70% renewable energy by 2030
and a carbon-free electricity system by 2040. The state has created
a set of policies including incentives for storage developers and
procurement requirements for its biggest utilities.
“This commercial energy storage system is an
important step forward in our distributed energy master plan,” said
Brian Conway, CEO at Ozop. “Stem is a valued energy storage partner
with unparalleled experience and best-in-class software that will
enhance our offering to New York City. We are very excited for this
collaboration and continue to reach several different energy
markets with our multiple energy offerings
“Stem’s expertise and Athena® intelligent
software solution is backed by tens of thousands of grid services
site dispatches to support energy reliability for our partners and
their customers. We are pleased to provide our market-leading
knowledge and VDER revenue optimization experience to Ozop, helping
alleviate congested grids and furthering New York’s energy goals
with smart energy storage,” added Christy Martell, Senior Vice
President of Sales at Stem.
For more information on OZSC, visit
www.OzopEnergy.com. Please be aware that our social media accounts
can be used from time to time for additional material events.
https://twitter.com/OzopEnergyhttps://www.facebook.com/OzopEnergy/The
Waypoint Refinery (discord.com)
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About Ozop Energy Solutions.
Ozop Energy Solutions (http://ozopenergy.com/)
invents, designs, develops, manufactures, and distributes
ultra-high-power chargers, inverters, and power supplies for a wide
variety of applications in the defense, heavy industrial, aircraft
ground support, maritime and other sectors. Our strategy focuses on
capturing a significant share of the rapidly growing renewable
energy market as a provider of assets and infrastructure needed to
store energy.
About Ozop Energy Systems,
Inc.Ozop Energy Systems is a leading Manufacturer and
distributor of Renewable Energy products in the Energy Storage,
Solar, Microgrids, and EV charging Station space. We are always
among the first to receive the newest technology, products, and
application techniques. We offer a broad portfolio of Renewable
Energy products at competitive prices with a commitment to customer
satisfaction from selection, to ordering, shipping, and
delivery.
About Stem, Inc.Stem, Inc.
(NYSE: STEM) provides solutions that address the challenges of
today’s dynamic energy market. By combining advanced energy storage
solutions with Athena®, a world-class AI-powered analytics
platform, Stem enables customers and partners to optimize energy
use by automatically switching between battery power, onsite
generation and grid power. Stem’s solutions help enterprise
customers benefit from a clean, adaptive energy infrastructure and
achieve a wide variety of goals, including expense reduction,
resilience, sustainability, environmental and corporate
responsibility and innovation. Stem also offers full support for
solar partners interested in adding storage to standalone,
community or commercial solar projects – both behind and in front
of the meter. For more information, visit www.stem.com.
Safe Harbor Statement“This
press release contains forward-looking statements. Such
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statements with respect to the company’s plans, objectives,
projections, expectations and intentions and other statements
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“would,” “should,” “believes,” “expects,” “anticipates,”
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the company’s filings with the Securities and Exchange Commission.
Actual results may differ significantly from those set forth in the
forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change
based on various factors (many of which are beyond the company’s
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any forward-looking statements, whether because of new information,
future events or otherwise, except as required by applicable
law.”
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Media Relations Contact -
OzopBrian HylandRubenstein Public
Relations212-805-3055bhyland@rubensteinpr.com
Investor Relations Contact –
OzopThe Waypoint Refinery,
LLC845-397-2956www.thewaypointrefinery.com
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