AUSTIN, TX--(Marketwired - Sep 15, 2016) - Ideal Power Inc., (NASDAQ: IPWR), a developer of innovative power conversion technologies, has been featured in four of six projects named as distributed storage and mobility finalists for Energy Storage North America's (ESNA) 2016 Innovation Awards. The awards annually recognize energy storage projects that demonstrate an exceptional level of design & engineering in practical applications.
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"It is always an honor when we are a nominee, finalist, or winner of an industry award," said Ryan O'Keefe, Senior Vice President of Business Development for Ideal Power. "But what I'm most proud of about the ESNA awards is the fact that we were involved in four different projects with very different requirements."
The project award finalists that utilized Ideal Power's patented power conversion technology:
- Stone Edge Farm
Stone Edge Farm is a 15-acre organic farm and vineyard located in Sonoma, California. The solar PV + storage installation is part of the farm's innovative microgrid and is designed to provide energy for a number of buildings on the site, including the primary residence, offices and workshops. The system uses Ideal Power's Grid Resilient 30 kW Multi-port Power Conversion System (30B3) powering Aquion batteries.
- Rocky Mountain Institute (RMI) Innovation Center
RMI implemented Gexpro's Power IQ 30 energy storage system (30 kW/45 kWh) and combined it with an 83 kW solar array at their Innovation Center in Basalt, Colorado. The system incorporates Ideal Power's Grid Resilient 30 kW Multi-port Power Conversion System (30B3) to ensure the building's peak usage does not exceed 50 kW.
- University of California, San Diego (UCSD) Smart Charging Center
UCSD installed a PV + energy storage system that is also an EV charging station. Ideal Power's Battery Converter (IBC-30kW-480) provides both battery charging (AC to DC) and battery discharging (DC to AC) to facilitate EV charging directly from energy storage thereby minimizing demand charges.
- Intel Charging Center
EV4 and Powin Energy collaborated on a solar + storage EV charging station at Intel's corporate headquarters in Santa Clara, California. The station's roof consists of 15 solar panels with a capacity of 4.1 kW which provide an estimated 7,300 kWh of power per year. Ideal Power's highly efficient (IBC-30kW-480) bi-directional power conversion system is integrated to convert AC to DC and vice-versa.
"This year's ESNA Innovation Award finalists are some of the most impactful and innovative energy storage projects deployed today. Ideal Power's power conversion systems were involved in four of the six non-utility projects on our list, which speaks to the respect they've earned in the industry," said Cedric Christensen, Director, Strategen Consulting.
Voting is open now until September 20 at ESNA's website. Winners will be announced October 5 during ESNA's 2016 conference in San Diego, California.
Ideal Power's power conversion systems are based on its patented, industry-leading Power Packet Switching Architecture™ (PPSA) which offers customers a proven, compact, high-efficiency solution for energy storage systems. Ideal Power's systems are software configurable, allowing them to operate in 50Hz or 60Hz environments, maximizing the ease of deployment in different geographical markets and providing the flexibility to optimize performance for many energy applications. The significant reduction in the size and weight of Ideal Power systems results in dramatically lower installation costs.
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, 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 energy density. Ideal Power employs a capital-efficient business model which enables the company to address development projects, R&D and markets simultaneously. For more information, visit www.IdealPower.com.
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. 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.