Construction of the manufacturing facility has been completed and the assembly/production equipment purchased under the Regenesys acquisition is currently being mobilized to site. Mass production models and commercial availability of the 5kW units is expected in the 4th quarter of calendar year 2005. Early internal pricing estimates of the 5kW x 4 hour VRB-ESS have remained on target and the system is intended to be cost competitive with the traditional technologies currently in use and considerably less expensive on a life cycle basis.
Prospects regarding sales of the large VRB-ESS systems (50kW to 10MW) has also been extremely positive. "The pipeline for potential sales continues to expand and progress" states Mark Kuntz, VP of Marketing and Business Development. "In the light of increasing uncertainty regarding the price of conventional energy sources, industry interest regarding energy storage and the VRB-ESS as a viable alternative is higher than it has ever been. VRB Power is receiving serious inquiries and recognition regarding the technology from around the globe". The company is currently in discussions with several potential customers for applications including peak shaving, integration with wind farms, and for capital deferral opportunities with utilities.
The Company is also pleased to announce that it has developed and commenced filing procedures for several additional patents regarding the VRB Technology. "Extension to the existing intellectual property is an important strategic objective as the company continues to extend its scope of protection related to the technology and its applications" states Tim Hennessy.
About VRB Power
Based in Vancouver, B.C. Canada, VRB Power Systems Inc. ("VRB Power") is an electrochemical energy storage company that has commercialized the patented Vanadium Redox Battery Energy Storage System ("VRB-ESS") and has acquired the intellectual property rights and assets comprising the Regenesys Energy Storage System ("RGN-ESS") for the purpose of developing similar but larger scale flow battery systems. Both technologies represent a new enabling capability to effectively store electricity on demand. They can provide direct economic benefits to utilities and end users in terms of improved power quality, reliability and energy efficiency. They are particularly well suited to load levelling (peak shaving), electrical power arbitrage, grid stability enhancements, capital deferment and Remote Area Power Supply (RAPS) applications. The company is primarily focused on stationary power sources such as utility substations, commercial buildings, production facilities, telecommunication operations, cellular radio sites, and renewable resource generation such as wind farms - creating the ability to provide "firm" capacity. As "green" technologies, the VRB-ESS and RGN-ESS are characterized by very low ecological impact and are unlike most other conventional energy storage systems that rely on toxic substances such as lead, zinc or cadmium. VRB Power is publicly listed on the TSX Venture Exchange ("VRB") and the OTC Pinksheets ("VRBPF").
Warning: The Company relies upon litigation protection for
"forward-looking statements"
"The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release"
Vince Sorace
President, VRB Power Systems Inc.
newswire.ca
For further information
VRB Power Systems Inc. at (604) 697-8820
Or visit the company's web site at: www.vrbpower.com
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