Sale of VRB-ESS to SOLON AG for Solar Applications
Thursday September 29, 9:30 am ET
VANCOUVER, Sept. 29 /CNW/ - VRB Power Systems Inc. (TSX-V: VRB - News) is pleased to announce the sale of a 10 kilowatt-hour VRB Energy Storage System to SOLON AG, of Germany (www.solonag.com).
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The VRB unit will undergo evaluation for the purposes of determining its fit for both grid-connected and grid-independent applications utilizing solar energy as the primary generation source. SOLON will be experimenting with the storage system for use in conjunction with its innovative "mover" system, a multi-axis solar tracking system which it has deployed in locations throughout Germany. SOLON will also use this system as a means of evaluating and validating the VRB technology for use with its utility-scale solar arrays.
"Stability and dependability are key focuses of system development for SOLON. The stochastic nature of solar photovoltaic applications accompanies technical demands dissimilar to standard energy storage applications, requiring superior dependability and flexibility. VRB technology leads in both these respects, and through this purchase SOLON will begin the development of truly independent solar energy. Applications will scale from our small autonomous power systems expanding up to entire solar parks like our 12MW Erlasee facility. We believe that this is an essential technology and in association can help to increase the utilization of solar photovoltaic energy" states Andrew Zwinkels, Project Manager for SOLON AG
"Germany provides an opportunity for the Company to demonstrate the value of its technology in providing reliable, long-life electricity storage systems to the growing market for renewable energy systems. The VRB Energy Storage System provides smoothing of output and consistency of supply for all intermittent generation sources, including solar and wind. VRB Power intends to expand its relationships in Europe with a focus on nations with strong renewable initiatives and markets that economically support the use of energy storage" states Mark Kuntz, VP of Marketing and Business Development at VRB Power.
About SOLON AG
SOLON AG was founded in 1997 and, upon going public in 1998, was the first quoted solar enterprise in Germany. Today the SOLON-group consists of the 100% subsidiaries SOLON PV GmbH, SOLON Nord GmbH and asp ag (Switzerland) and of a 70% stake in the Soline GmbH. SOLON is one of the leading producers of photovoltaic modules in Germany and a specialist for the integration of photovoltaic technology into buildings. About 70% of the photovoltaic plants on the new buildings of the German federal government in Berlin come from the house of SOLON.
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 VRB Energy Storage System ("VRB-ESS") and has acquired the intellectual property rights comprising the Regenesys Energy Storage System ("RGN-ESS"). 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 a "green" technology, the VRB-ESS is characterized by having a low ecological impact and is 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.
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