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September 03, 2015 6:14 AM ET

Household Durables

Company Overview of Ice Energy, Inc.

Company Overview

Ice Energy, Inc. manufactures and markets energy storage solutions, and cooling and refrigeration products for residential and commercial markets. The company offers Ice Bear 30 Hybrid Air Conditioner, an energy storage solution for air conditioning usages in small to medium sized commercial businesses. It offers solutions for architects, building energy consultants, builders and developers, utility customers in California, energy and facilities managers, mechanical contractors, and utilities. The company has a strategic partnership with Carrier Corp. Ice Energy, Inc. was founded in 2003 and is headquartered in Glendale, California.

823 Milford Street

Glendale, CA 91203

United States

Founded in 2003

Phone:

877-542-3232

Fax:

818-478-2287

Key Executives for Ice Energy, Inc.

Chief Executive Officer
Chief Financial Officer, Vice President of Finance and Corporate Controller
Chief Operating Officer
Senior Vice President of Finance
Age: 46
Compensation as of Fiscal Year 2015.

Ice Energy, Inc. Key Developments

NRG Energy, Inc. and Ice Energy Partner for Southern California Utility Storage Projects

NRG Energy, Inc. and Ice Energy have partnered to help reduce California’s peak energy demand through an innovative energy storage solution. NRG and Ice Energy will meet the recently awarded 20 year long-term contracts to provide 25.6 megawatts of behind-the-meter energy storage using Ice Energy’s proprietary Ice Bear technology for Southern California Edison (SCE). NRG and Ice Energy will deliver the peak energy reductions associated with these contracts. Financial terms of the agreement were not disclosed. Subject to final approval from the California Public Utilities Commission, approximately 1,800 Ice Bear units will be installed in Orange County beginning in early 2016. Attaching to one or more standard 5-20 ton rooftop commercial AC units, the Ice Bear provides a unique solution to the problem of peak load management, a key part of creating power grids which are more efficient, reliable, and effectively integrate renewables. The Ice Bears freeze ice at night when demand for power is low and capacity is abundant, and then use stored ice during the day to provide cooling instead of power-intensive AC compressors. Each Ice Bear can reduce harmful CO2 emissions by up to four tons per year. Including the 178 MW of demand response and energy efficiency products awarded to NRG in SCE’s recent RFO, this arrangement will bring NRG’s total commitment to California’s growing Preferred Resources market to over 200 MW.

Ice Energy Wins Five-Year Contract from Riverside Public Utilities to Provide 5 MW of Behind-The-Meter Thermal Energy Storage Using its Proprietary Ice Bear System

Ice Energy has been awarded a five-year contract from Riverside Public Utilities to provide 5 MW of behind-the-meter thermal energy storage using Ice Energy’s proprietary Ice Bear system. The program will kick off this spring. The City of Riverside, California, the hottest climate zone in the Los Angeles basin, selected Ice Energy to align with its Utility 2.0 smart grid and renewable energy plan. Ice Energy’s product, the Ice Bear, is a smart-grid enabled, thermal energy storage technology that will help Riverside Public Utilities better integrate its increasing reliance on clean, renewable energy resources like wind, solar, and geothermal systems to maintain low energy costs for its customers.

Ice Energy Signs Five-Year Contract with Riverside Public Utilities

Ice Energy on March 11, 2015 announced that it was awarded a five-year contract from Riverside Public Utilities to provide 5 MW of storage using its behind-the-meter Ice Bear systems. Attached to one or more standard 5-20 ton commercial AC units, the Ice Bear freezes ice at night, and then during the day, that stored ice is used to provide cooling, instead of power-intensive AC compressors. The company's smart grid software platform provides a two-way control to provide utilities with a fully dispatchable grid asset.

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