SOURCE: SAIL Venture Partners

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January 03, 2011 07:00 ET

SAIL Announces a First in Utility-Scale Solar Battery Storage

Xtreme Power and Xcel Energy Partner With SolarTAC on Utility-Scale Solar Battery Storage Project

IRVINE, CA and NEW YORK, NY--(Marketwire - January 3, 2011) -   SAIL Venture Partners announced that its portfolio company Xtreme Power Inc., provider of Dynamic Power Resources (DPRs) for utility-scale energy storage, and Xcel Energy (NYSE: XEL) have formed a partnership to install a 1 megawatt (MW) system to collect operational data on the integration of energy storage and solar energy systems at the Solar Technology Acceleration Center (SolarTAC), the nation's largest solar testing facility.

SolarTAC is a private facility in Aurora, Colo. that serves as a solar industry test bed to validate and demonstrate a variety of solar technologies. The role of Xtreme Power's DPR is to perform a number of energy storage and grid asset functions, including output smoothing, time shifting and forecast error mitigation for solar energy generated at the site. The project aims to display the real-world results of integrating storage systems with solar installations, to more efficiently incorporate energy output from renewable sources onto the power grid. Results will be made public to reflect the system's performance over the course of three years.

Walter Schindler, an Xtreme Power Board member and a Managing Partner of SAIL Venture Partners, stated, "The Xcel project marks Xtreme Power's first partnership directly with a utility, its first installation with a solar facility, and its first mainland installation. This project will open many doors for Xtreme in the future." SAIL is an investor in Xtreme Power.

"Taking part in the SolarTAC project with Xcel Energy affords us an opportunity to work alongside one of the most progressive utilities in the industry," said Carlos Coe, CEO of Xtreme Power. "We expect the results to highlight the broad range of benefits battery energy storage brings to PV manufacturers, project developers and power producers, ultimately enabling a more effective utilization of clean energy around the world."

"We hope that this demonstration will prove to be a pivotal point for PV solar energy combined with energy storage, and in turn underscore for utilities and other electricity providers that viable energy storage systems can become a commercial reality," said Frank Novachek, Xcel Energy director for business planning. The DPR will be operational at the site by the end of 2010.

About Xcel Energy

Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company, with operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

About Xtreme Power

Based in Kyle, Texas, Xtreme Power engineers, manufactures and operates integrated power management and energy storage systems for use in renewable energy and micro-grid applications. Xtreme's Dynamic Power Resource™ combines the large-scale storage capabilities of the company's proprietary PowerCell™ technology with its micro-second controls and high-efficiency power electronics, creating a comprehensive solution to the intermittency and variability challenges facing utilities and independent power producers looking to implement clean energy to the electrical grid. By providing scalable systems engineered specifically to the needs of its customers, Xtreme Power offers a safe and cost-effective approach to dramatically increase the feasibility of renewable energy.

About SolarTAC

The Solar Technology Acceleration Center (SolarTAC) is an integrated, world-class test facility where the solar industry can research, test, validate, and demonstrate solar technologies. SolarTAC's mission is to increase the efficiency of solar energy products and rapidly deploy them to the commercial market. Located near Denver International Airport in Aurora, Colorado, the 74-acre SolarTAC site offers flat, graded topography and excellent insolation conditions with over 300 days of sunshine a year in one of the most progressive renewable energy states in the country. The SolarTAC site will include facilities for testing both photovoltaic and concentrated solar power (CSP) technologies, including access to the grid.

About SAIL Venture Partners

SAIL Venture Partners LLC (www.sailvc.com) is a cleantech investment firm with unique
global insight into technologies, markets and opportunities. Drawing on decades of experience in cleantech and in growing successful businesses, the SAIL team invests in emerging cleantech companies with proven technologies, visionary leadership, demonstrated revenue and profit growth potential. SAIL has invested in a number of today's leading global cleantech companies, including: Xtreme Power, Ice Energy, The Cleantech Group, Enerpulse, Dow Kokam, SNTech Motors, M2 Renewables, and WaterHealth International. For more information, visit www.sailvc.com.

Contact Information

  • For Press Inquiries, please contact:
    Sarah Currie
    SAC Marketing for SAIL Venture Partners
    917-498-5748