JLM Energy and Ideal Power Complete 750 Kilowatt Purchase Order for Ideal Power’s Stabiliti™ Series Products
January 17 2018 - 8:31AM
Ideal Power Inc. (NASDAQ:IPWR), an innovative power conversion
technology company, completed a purchase order agreement with JLM
Energy, a leading provider of commercial and industrial (C&I)
energy storage systems for ‘behind the meter’ peak shaving
solutions in the California market. Utilizing Ideal Power’s power
converters, JLM offers stand-alone commercial energy storage and
microgrid projects from design to manufacturing, installation and
system monitoring.
Following a master purchase agreement in October 2016, JLM is
moving to Ideal Power’s newest product offerings. Ideal Power will
supply JLM’s portfolio of commercial battery energy storage systems
and microgrid projects with its 30 kW Stabiliti™ series products.
The latest JLM purchase order is for 25 30kW dual-port Stabiliti™
series power conversion systems, to primarily provide ‘behind the
meter’ peak shaving solutions to California manufacturing and
industrial companies. The units are currently scheduled for
delivery in March 2018.
JLM Energy’s primary customers are companies that operate
printing, food processing, metal fabrication and finishing, plastic
and foil converting and coating businesses where manufacturing
equipment and processes often require large surges in electrical
power. JLM's Gridz commercial energy storage systems effectively
provide the necessary peak surges without drawing electricity
demand from the grid and electric utility, reducing electrical
demand charges and utility expenses considerably.
“The supply partnership with Ideal Power expands fulfillment
capacity and improves support of a growing fleet of JLM’s
commercial energy management and microgrid systems, including our
Gridz and Measurz offerings,” said Bob Montano, vice president of
operations for JLM Energy. “We’re a technology-driven, customer
focused company, and we’re excited to continue working with Ideal
Power to optimize energy use and maximize savings through safe and
reliable solutions for our customers.”
“We are thrilled to provide JLM Energy with our latest power
conversion technology to enable cost effective, flexible and
efficient systems,” said Ideal Power CEO Dan Brdar. “We’re
confident that Ideal Power’s UL 1741 SA certified 30 kW Stabiliti™
series products can help serve JLM’s pipeline of commercial storage
projects.”
About JLM EnergyJLM Energy is an energy
technology company. JLM has created a
fully-integrated software platform and energy ecosystem that
optimizes energy use and maximizes savings for
customers. The ecosystem includes the market’s only
plug-and-play energy storage product, monitoring devices,
algorithms and load controllers that are all unified via a single
software platform. JLM Energy is an employee-owned company. To
learn more, visit www.jlmei.com.
About Ideal Power Inc.Ideal Power (NASDAQ:IPWR)
is a power conversion technology company that delivers innovative
solutions to system integrators and project developers, enabling
distributed energy resources for applications both on and off the
grid. Ideal Power’s products deliver superior reliability and
compelling return on investment for renewable energy and storage
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 + storage,
battery energy storage, and microgrids. For more information,
visit www.IdealPower.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, 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. The order described in this release
is subject to commercial terms that enable the customer to delay or
reschedule delivery of product, thereby impacting the timing of our
recognition of associated revenue. 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:Antennawww.antennagroup.comKalena
Gravinaidealpower@antennagroup.com1.201.465.8013
Ideal Power Investor Relations Contact:MZ North
Americawww.mzgroup.usChris TysonIPWR@mzgroup.us1.949.491.8235
JLM Energy Media Contact:www.jlmei.comEllen
HoweEllen.howe@jlmei.com1.703.835.5550
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