Ideal Power Partners With Austin Energy on US DOE-Funded

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Jan 21, 2016 at 8:45 AM

Ideal Power Partners With Austin Energy on US DOE-Funded Projects to Integrate Solar PV and Storage for Commercial Sites

AUSTIN, TX--(Marketwired - Jan 21, 2016) - Ideal Power Inc. ( NASDAQ : IPWR ), a developer of innovative power conversion technologies, announced today that it has partnered with Austin Energy in a federally-funded research program as part of the "Sustainable and Holistic Integration of Energy Storage and Solar PV" (SHINES) program. The Austin Energy led projects are partially funded by a $4.3 million award from the U.S. Department of Energy's SunShot program. For the projects, Ideal Power was selected to provide its power conversion systems to Austin Energy which will demonstrate a commercial PV integrated energy storage solution that offers a credible pathway to achieve the levelized cost of energy goals of the program. In addition, Austin Energy will work with Ideal Power and its other consortium partners to create a template for other regions to maximize PV penetration and provide grid stability by utilizing energy storage in areas where high levels of PV are integrated with the grid.

"We look forward to working with Ideal Power on this innovative project that will ultimately allow Austin Energy to support our aggressive renewable energy goals. Ideal Power's experience with power conversion technologies make it a strong partner in the Austin SHINES solution," said Karl Popham, Austin Energy Manager of Emerging Technologies and Electric Vehicles.

Austin Energy will incorporate Ideal Power's Grid Resilient 125kW and 30kW Power Conversion systems paired with lithium-ion batteries into commercial, behind-the-meter projects in 2016. Additionally, Ideal Power is contributing engineering, design and programming support, as well as training, commissioning and testing services for the Austin Energy projects.

"We're proud to partner with Austin Energy, our local utility, to support this initiative," said Dan Brdar, CEO of Ideal Power. "These projects will enable us to demonstrate the role of our grid-resilient power conversion systems in integrating energy storage with PV for grid stabilization."

About Ideal Power Inc. Ideal Power Inc. ( NASDAQ : IPWR ) has developed a novel, patented power conversion technology called Power Packet Switching Architecture™ (PPSA). PPSA improves the size, cost, efficiency, flexibility and reliability of electronic power converters. PPSA can scale across several large and growing markets, including commercial grid storage, combined solar and storage, microgrids, and electrified vehicle charging. Ideal Power also has a capital-efficient business model that can enable it to address these markets simultaneously. Ideal Power has won multiple grants for its PPSA technology, including a $2.5 million grant from the Department of Energy's Advanced Research Projects Agency - Energy (ARPA-E) program, and market-leading customers are incorporating PPSA as a key component of their systems. For more information, visit www.IdealPower.com .

Safe Harbor Statement All statements in this release that are not based on historical fact are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of our control that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, whether the patents for our technology provide adequate protection and whether we can be successful in maintaining, enforcing and defending our patents, whether a demand for energy storage products will grow, whether demand for our products, which we believe are disruptive, will develop and whether we can compete successfully with other manufacturers and suppliers of energy conversion products, both now and in the future, as new products are developed and marketed. Furthermore, we operate in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements.

Ideal Power Media Contact: Mercom Communications Wendy Prabhu 1.512.215.4452 www.mercomcapital.com Email Contact Ideal Power Inc. Investor Relations Contact: MZ North America Matt Hayden 1.949.259.4986 www.mzgroup.us Email Contact

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

VEMERIX Demystifies Adhesive Sourcing with New Checklist

A Sticky Situation in the Medical Adhesive Market Anyone who's trudged through the complex web of medical device procurement knows the devil's in the details. This rings especially true in the world of medical cyanoacrylate adhesives—a market riddled with regulatory nuances that could make your head spin. VEMERIX, a player in the international medical device space,...

Historic Williamsburg Loft Gets a Modern Makeover

Breathing New Life into a Brooklyn Classic Alright, picture this: You're stepping into a century-old Brooklyn loft, expecting dust, aged wood, maybe a ghost or two. What you actually find is art wrapped in brass with a splash of modern flair. This ain't just any loft, folks—it's the latest trophy on the mantle for Gallery KBNY, a design-build firm known for its...

Mausam Bhatt Joins Cars.com as Chief Product Officer

Shifting Gears with a New Leader Sometimes the name alone isn't enough to get things rolling, but when someone who's built billion-dollar platforms from scratch joins your team, the engine's ready to roar. That's the motor firing up at Cars.com with Mausam Bhatt behind the wheel as their fresh Chief Product Officer. If you think a new set of eyes can only see what's...

ASTS Faces Class Action: Investor Warning Ahead

AST SpaceMobile: Turbulence Ahead? The latest buzz isn't coming from AST SpaceMobile's satellites but from courtrooms, with a class action lawsuit raising eyebrows among NASDAQ:ASTS investors. It's like watching a high-stakes poker game where cards have hidden costs, and the patience of those holding them is wearing thin. Here's what's truly ruffling feathers. What...

Omaha Steaks Simplifies Gifting with Delicious Solutions

Who’s got time to fuss over the perfect holiday gift? Turns out, just about nobody. A recent survey suggests 79% of adults over 25 yearn to ditch the guessing games when it comes to gifting. Enter Omaha Steaks, staking its claim as the hero of culinary generosity. Eating Up the Holiday Stress This isn't just your average foodie fare. Omaha Steaks has cooked up a plan...

Universal Music Hits High Note with 11% Revenue Surge

Universal's Harmonious Growth in 2026 Universal Music Group (UMG) isn't just playing second fiddle to anyone in the music biz. They've rolled out an impressive set of numbers for Q3 2026. We're talking €3,394 million in revenue, marking a solid 12.3% bump year-over-year, or 11.7% when the currency takes a breather. Hats off to the acquisition of Downtown, which greased...

E. Coli Outbreaks Spark Push for New Petting Zoo Laws

A Long-Standing Question Finally Answered There comes a time when asking the same question repeatedly feels like chasing your own tail. That's where Bill Marler, food safety attorney extraordinaire, found himself after two decades of wondering if petting zoos should face the chopping block. Right on the heels of E. coli investigations across Illinois, California, and...

Study Reveals Stark Disparities in Education Equity

Are We Dropping the Ball on Future Talent? Listen, there’s a harsh truth screaming at us from the NWEA’s latest study, and it’s not pretty. We’re talking about a serious gap here, folks—one that shows lower-income kids are getting the short end of the stick in education yet again. When more than half of U.S. students come from lower-income families but only 20%...

Geolava, Vaidio, Sensoneo Triumph in Texas Pitch Contest

North Texas Lights the Innovation Torch Big moves are happening in North Texas, with a pitch competition that's more than just smoke and mirrors. We're talking about an arena where regional challenges meet cutting-edge solutions, and out of a global mix, Geolava, Vaidio, and Sensoneo snagged the 2026 North Texas Connected Innovation Pitch Contest crown. It's high stakes...

Kansas City Life Welcomes Kellie Needham to Board

A New Era in Kansas City Life's Leadership This ain't your run-of-the-mill board appointment, folks. Kansas City Life Insurance Company has just handed the reins to Kellie S. Needham, who steps in to fill her mother's recently vacated board seat. Imagine that—a family legacy stretching back to the early 1900s when J.B. Reynolds first laid the foundation. Legacy Unbroken...