Ener1 and Federal Grid Company to Demonstrate Lithium-Ion Distributed Energy
Storage System at St. Petersburg International Economic Forum
NEW YORK, June 15, 2011
NEW YORK, June 15, 2011 /PRNewswire/ -- Ener1, Inc. (NASDAQ: HEV) and the
Russian Federal Grid Company (FGC) (MICEX: FEES) today announced they will
display a fully operational, lithium-ion, distributed energy storage system as
part of the 15th annual St. Petersburg International Economic Forum which will
be held June 16-18 in Russia. The Forum will be attended by more than 2,500
people. Leading the roster of government leaders and corporate CEOs from
around the world are opening speeches by the President of the Russian
Federation, Dmitry Medvedev, and the President of the People's Republic of
China, Hu Jintao.
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Ener1 and FGC will be displaying a 70 kWh distributed energy storage system.
While the unit is a smaller version of the large-scale solutions the
companies are co-developing as part of an agreement signed last November, it
will provide attendees an understanding of how the two companies can
strategically manage power storage for the country's electric grid. The
large-scale distributed energy storage systems being developed -- which will
be used for emergency back-up power at FGC substations in St. Petersburg and
the Black Sea port city of Sochi, site of the 2014 Winter Olympic Games -- are
scheduled to be installed in Russia in the next few months. The first unit
will be shipped in the next few weeks.
"Ener1 is committed to working with FGC as part of its effort to support
Russia's $15-billion investment to modernize the country's electric grid
infrastructure through 2012," said Ener1 Chairman and CEO Charles
Gassenheimer. "Together, we're developing energy storage solutions that we
hope will leap-frog the current infrastructure and leverage the benefits of a
smart grid technology, which could ultimately save FGC and its customers
millions of dollars."
"We've been working with FGC's Mobile GTES subsidiary to develop and
manufacture two distributed energy storage systems," said Bruce Curtis,
president of grid energy storage solutions for Ener1. "When the units are
installed this fall, we believe they will provide viable solutions to help
strengthen Russia's electric grid in two demanding regions, provide emergency
back-up power for substation auxiliaries, and offer future integration for
intermittent renewable energy sources."
Due to the growth in renewable energy sources like wind and solar and the need
to modernize electric utility grids, the energy storage market is expected to
grow to approximately $2.5 billion globally by 2015*. With expertise
developed over the last few years, Ener1 hopes to work with utility partners
and contractors in countries like the U.S., Japan, Germany, Russia, India and
Brazil to deliver the right energy storage system -- including distributed,
community or bulk energy storage solutions -- to address their power needs.
"We've been collaborating with Ener1 to develop lithium-ion-based energy
storage solutions for Russia's Unified National Power Grid to help improve the
reliability of power delivery to our customers," stated Oleg Bragin, general
director, Mobile GTES. "At the Forum, we plan to demonstrate just how far
we've come in such a short time in developing the distributed energy storage
systems we're installing this fall in St. Petersburg and Sochi."
As part of the St. Petersburg event, the FGC is also sponsoring an
invitation-only roundtable entitled "Smart Grids: Projects of the Future,"
which is designed to educate and encourage debate around issues critical to
wide-spread smart grid deployment around the world. Ener1 Chairman and CEO
Charles Gassenheimer will be one of the industry experts providing
perspectives on the future direction of lithium-ion-based bulk energy storage
solutions for smarter electric grids. The roster of six speakers includes
from the U.S.:
*George Arnold , national coordinator for smart grid interoperability,
National Institute of Standards and Technology (NIST)
*Terry Boston , president and chief executive officer, PJM Interconnection
About Ener1, Inc.
Ener1, Inc. is a publicly traded (NASDAQ: HEV) energy storage technology
company that develops compact, lithium-ion-powered battery solutions for the
transportation, utility grid and industrial electronics markets. Headquartered
in New York City, the company has more than 700 employees with manufacturing
locations in the United States and Korea. Ener1 also develops commercial fuel
cell products and nanotechnology-based materials.
About Federal Grid Company
Open Joint-Stock Company Federal Grid Company of the Unified Energy System
provides unified national electric grid management to the power industry in
the Russian Federation. It offers energy transmission services; technical
connection services, including services for electric power consumption
(delivery), as well as providing actual connection of consumers' electric
devices to the electric grid facilities to legal entities and individuals; and
technical maintenance and repair of facilities in the unified national
electric grid system. The company also invests in and develops the unified
About Mobile GTES
Joint-stock company Mobile GTES is a wholly owned subsidiary of Federal Grid
Company. It was established in 2006 to deploy and operate mobile gas turbine
power stations with a view to maintaining the reliability of the Moscow
region's power grid at peak hours in the most effective, safe and ecologically
pure manner. Mobile GTES was also created to be able to promptly relocate
such power plants to remote regions of Russia with inadequate electricity
supplies. The company possesses vast experience in commissioning and
operating mobile gas turbine power plants and selling capacity and power on
the wholesale market.
Safe Harbor Statement
Certain statements made in this press release constitute forward-looking
statements that are based on management's expectations, estimates, projections
and assumptions. Words such as "expects," "anticipates," "plans," "believes,"
"scheduled," "estimates" and variations of these words and similar expressions
are intended to identify forward-looking statements. Forward-looking
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, as amended. These statements are not
guarantees of future performance and involve certain risks and uncertainties,
which are difficult to predict. Therefore, actual future results and trends
may differ materially from what is forecast in forward-looking statements due
to a variety of factors. All forward-looking statements speak only as of the
date of this press release and the company does not undertake any obligation
to update or publicly release any revisions to forward-looking statements to
reflect events, circumstances or changes in expectations after the date of
this press release.
* Source: Greentech Media Inc., August 2009.
Media Contacts: Ener1, Inc.Brian Sinderson+1 212.920.3500 X117
SOURCE Ener1, Inc.
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