VRB Power appoints Carbon International as part of strategic focus on Renewable Opportunities in Europe
Friday March 24, 9:30 am ET
VANCOUVER, March 24 /CNW/ - VRB Power Systems Inc. (TSX-V: VRB - News) announces that it has appointed the London based environmental communications agency, Carbon International, to provide press, media and investor relations services with a major focus on the European Markets.
Carbon International is focused on providing communications services to clients focused on clean energy and environmental solutions and has strong relationships with relevant media, potential customers, stakeholders and institutional investors. Carbon International will focus on generating specialist and mainstream media coverage on VRB Power and in generating interest in VRB Power from potential customers, end-users, policy makers and institutional investors.
Tim Hennessy, CEO of VRB Power said "Europe has become a key focus for the Company. The adoption of the Kyoto Protocol, combined with the desire to reduce dependence on ever more costly traditional means of electricity generation is driving the implementation of renewable energy programmes in a number of European countries."
"As more and more renewable energy is generated, problems are being encountered with the variable nature of this energy. To date, in a number of areas, this has capped the amount of renewable energy sources that can be added to the grid. It has also lead to electricity supplied from renewable sources being heavily discounted and excess capacity generated at "off peak" times being largely wasted. Storage solves these issues by enabling the supply of "firm" capacity and enabling producers of renewable energy to "inventory" electricity thereby allowing for the optimal matching of supply and demand.
"Combine these opportunities with the environmental concerns over lead acid batteries being used in traditional UPS and back-up power applications in markets such as telecommunications and we believe that the timing is right to raise the awareness of our products and the profile of the Company in Europe."
"As part of this initiative, we have appointed Carbon International, who come highly recommended and who have strong relationships in our key areas of focus", concluded Hennessy.
Tom Whitehouse, CEO of Carbon International said "We are very much looking forward to working with VRB Power Systems on its European expansion. Europe certainly needs the energy storage platform that VRB provides. Cost- effective energy storage will particularly boost the appeal of renewable power such as onshore and offshore wind, and of stationary power applications."
For its communications services, VRB Power will pay Carbon International a monthly retainer of pnds stlg 3,500 (sterling). The contract between Carbon International and VRB Power is for an initial 3 month period and, thereafter, can be terminated by either party giving the other party 30 days written notice. Carbon International does not have any interest, directly or indirectly, in VRB Power or its securities, or any right or intent to acquire such an interest. Tom Whitehouse, CEO is the principal of Carbon International.
About Carbon International
Carbon International is a leading London-based environmental communications agency. Its clients include listed and unlisted companies, both UK-based and overseas, including Impax Group (the Aim-listed environmental asset management company), Theolia (the Euronext-listed French clean energy investor and developer), Econergy (the Aim-listed US clean energy investor and developer), and HTC Purenergy (the TSX-listed, Canadian based energy technology company).
About VRB Power
Headquartered in Vancouver, Canada, VRB Power Systems Inc. is an energy storage technology developer, manufacturer and systems integrator utilizing the patented VRB Energy Storage System ("VRB-ESS(TM)"). The VRB-ESS is a long life, cost effective, low maintenance, efficient technology that allows for the scalability of power and storage capacity independently. It is focused towards stationary applications and can economically store and supply large amounts of electricity on demand. The VRB-ESS is particularly beneficial to renewable energy providers, utilities and end users through the ability to "inventory" electricity, allowing for the optimal match of supply and demand, as well as providing improved power quality, reliability and energy efficiency.
The VRB-ESS is well suited for a variety of applications. Enabling the provision of "firm" capacity from intermittent renewable generation such as wind and solar, Remote Area Power Supplies, backup power supplies for utility sub-station and telecommunication sites, capital deferral models for utilities and load levelling (peak shaving). 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 or cadmium.
Warning: VRB Power's press releases may contain forward-looking statements. These statements are based on management's current expectations and beliefs which are subject to a number of known and unknown risks and uncertainties (including, but not limited to, the risk factors described in VRB Power's Annual Information Form filed with the British Columbia Securities Commission and available at www.sedar.com) that could cause actual results to differ materially from those expressed or implied in our forward-looking statements. The Company does not assume any obligation to update any forward- looking statements contained in this press release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Simon Clarke
Executive Vice President
Corporate Development
Tom Whitehouse
CEO, Carbon International
Tel: 44 (0)20 7722 9355 carboninternational.com
For further information please contact:
VRB Power Systems Inc. at (604) 697-8820
Investor Relations at (604) 697-8835
Or visit the company's web site at: vrbpower.com
Source: VRB Power Systems Inc. |
