Ideal Power Receives 1.1 Megawatt Purchase Order for its SunDial™ Plus Inverters from NEXTracker for One of the Largest Sol...
03 May 2018 - 10:31PM
Ideal Power Inc. (NASDAQ:IPWR), an innovative power conversion
technology company, has received a 1.1-megawatt (MW) purchase order
for its SunDial™ Plus products for a power plant at the Maharishi
University of Management (MUM) in Fairfield, Iowa using the
NEXTracker NX Flow™ integrated solar-plus-storage system. The
project represents NEXTracker’s first large-scale installation of
the NX Flow solution.
The project, led by Iowa-based Ideal Energy will be built on
University land and, when completed, is projected to be one of the
largest solar-plus-storage power plants in the state, producing
enough energy to cover nearly a third of the University’s annual
electricity usage. In addition to those savings, NX Flow will use
peak-shaving to significantly reduce MUM’s utility bill during
high-demand times. According to the National Renewable Energy
Laboratory, Iowa has relatively high demand charges (typically
above $20/kW).
NX Flow’s energy storage system integrates battery, solar
tracker, inverter and software technologies to improve return on
investment for owners of solar power plants. At the core of the
system lies Ideal Power’s SunDial Plus inverters and an advanced
vanadium flow battery (VFB), which is DC-coupled with the
photovoltaic array. With NX Flow, the battery charges directly off
the array, enabling the battery to store “clipped” energy up to its
capacity limit. DC-coupling allows PV energy production formerly
lost to clipping, where the DC rated power feeding the inverter
exceeded the inverter rated power, to be stored directly in the
batteries and used to generate additional kilowatt-hours of
revenue.
“We are thrilled to be a part of this ground-breaking renewable
energy solution located outside of California, the initial market
for energy storage solutions in the US,” said Ideal Power CEO Dr.
Lon Bell. “Early adopters like Maharishi University of Management
will now serve as the blueprint for the future of solar + storage
solutions in the US.”
About Ideal Power Inc. Ideal Power
(NASDAQ:IPWR) is a power conversion technology company that
delivers innovative solutions to system integrators and project
developers enabling distributed energy resources for applications
both on and off the grid. Ideal Power’s products deliver
reliability and compelling return on investment for renewable
energy and storage applications at a competitive cost, backed by
first-rate customer service. With its patented power conversion
technology, Ideal Power supports a broad set of growing markets,
including solar + storage, battery energy storage and
microgrids.
Ideal Power’s patented Bi-directional Bi-polar Junction
Transistor (B-TRAN) semiconductor technology is a unique
double-sided bi-directional AC switch expected to deliver
substantial performance improvements over today's conventional
power semiconductors. B-TRANs offer the potential to improve
efficiency and system economics of a wide variety of power
converter applications including electrified vehicle traction
drives, energy storage applications, photovoltaic (PV) inverters
and wind converters, variable frequency (VFD) motor drives, and AC
and DC power control applications. 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 Investor Relations Contact:
MZ North America www.mzgroup.us
Chris
Tyson IPWR@mzgroup.us
1.949.491.8235
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