February 3, 2014
Princeton Power Systems and EnStorage announced today that they have been awarded a $950,000 grant from the Israel-U.S. Binational Industrial Research and Development Foundation (BIRD).
The grant will support the commercialization and deployment of an energy storage system based on EnStorage's proprietary hydrogen bromide (HBr) flow battery and Princeton Power Systems' inverters and site controller. The first system will be deployed to support a photovoltaic (PV) installation and would be able to support the grid for at least six hours per day for a minimum of 20 years.
"The BIRD Foundation grant will enable our companies to develop a comprehensive solution for PV installations and various other applications," said Marshall Cohen, Chairman of Princeton Power Systems. "We aim to develop inverters as well as software for EnStorage's HBr technology to add to our long-term energy-storage offering."
The commercial system will be a 150kW/900kWH containerized system, to be based on EnStorage's grid connected 50kW/100kWH technology demonstrator.
"Our partnership with Princeton Power Systems will allow us to expedite the commercialization of our technology," said Arnon Blum, CEO of EnStorage. "The ability to deploy our battery at a customer site and rely on Princeton Power Systems' experience in optimizing the interaction between the grid and our battery's performance will serve as a significant step for future deployments."
EnStorage Israel Ltd. grew out of a need to provide utilities and large-scale industrial clients a cost-effective and reliable way to store energy. The company has scaled from a one watt lab proof-of-concept single cell system, to the recently operational, multi-stack full system. During this period, the system's components have been put through extensive testing that proved stable operations during 10,000 cycles. EnStorage's HBr technology breakthroughs are covered by an extensive IP portfolio, which includes the core technology, materials, membrane and operations.
EnStorage is developing large scale energy storage devices based on proprietary flow battery technology. The company is backed by leading investors including: Warburg Pincus, Canaan Partners, Greylock Israel, Wellington and Siemens TTB.
About Princeton Power Systems
Based in New Jersey, Princeton Power Systems is a leading global designer and manufacturer of technology products and embedded software for energy management, micro-grid operations, and electric vehicle charging. Princeton Power Systems manufactures UL and CE certified power electronics for advanced battery operation and alternative energy, with built-in smart functions for grid services including peak shaving and frequency regulation. Princeton Power Systems also integrates full systems including multiple generation sources, batteries, and other technologies, and designs, commissions, and operates micro-grids. In applications integrating generators, drastic reductions in fuel consumption has been demonstrated. Princeton Power Systems is proud to manufacture products in the USA that are in use across North America, Europe, Asia and the Caribbean with current projects soon expanding our presence to Africa. More information about Princeton Power is available at http://www.princetonpower.com.
Princeton Power Systems is a trademark in the U.S. and other countries. (C) 2014 Princeton Power Systems, Inc. All rights reserved.
For more information: