Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Ener1 Signs Strategic Energy Storage Agreement with Russian National Grid Operator

Abstract:
Supply Contract for $40 Million Signed, Project Centers on 2014 Winter Olympics Site

Ener1 Signs Strategic Energy Storage Agreement with Russian National Grid Operator

New York, NY | Posted on November 1st, 2010

ENER1, Inc. (Nasdaq: HEV), a leading manufacturer of automotive and utility-scale lithium-ion battery energy storage systems, has signed a strategic cooperation deal with a division of the Russian Federal Grid Company (FGC) to co-develop storage systems under a nation-wide grid modernization program. An equipment-supply, business and technical consulting contract has been signed for $40 million. The Russian government has funded the update of the country's power transmission infrastructure at a level of $15 billion through 2012.

"This is a unique opportunity for an American company to get in on the ground floor of Russia's historic shift toward energy efficiency as a full-fledged partner," said Bruce Curtis, President of Ener1 Grid Storage. "FGC is in a leap-frog mode to incorporate lithium-ion storage technology for multiple uses in an overhaul of what is one of the world's largest bulk power grids. Russia is the largest country in the world and we believe this contract is only the beginning for us there."

The initial phase of cooperation is underway and scheduled for completion in Q2 next year. It focuses on grid integration of large-scale emergency power back-up systems in economically critical regions, specifically the Black Sea port city of Sochi, selected as the official site of the XXII Winter Olympic Games in 2014. Installations are being custom designed for exacting operational conditions and placement at remote grid substations in the Western Caucasus Mountains ski resort Krasnaya Polyana. The purpose is to maximize reliability of the power supply for Olympic events.

The supply contract was signed with state-run FGC's wholly owned subsidiary Mobile GTES, Russia's leading manufacturer of mobile electric power stations. In addition to the design and manufacture of the specialized Sochi energy storage units, the contract includes two in-depth joint studies involving Ener1 and FGC engineers covering:

* System-wide assessment for deployment of lithium-ion storage for applications including strengthening the grid in remote regions, peak load-shaving and future integration of intermittent renewable power sources such as wind;

* Feasibility of localization within Russia of development and manufacture of lithium-ion battery cells and other components for energy storage systems.


"Energy efficiency in the national power transmission system is a top priority for our company," said Federal Grid Company CEO Oleg Budargin. "We are pleased to be collaborating with a leading U.S. maker of lithium-ion grid storage systems to establish the maximum advantage this technology can offer for increasing the reliability of power delivery to our customers across the country."

"We view this strategic cooperation as an opportunity to deliver unprecedented value in the history of the global lithium-ion energy storage industry," said Ener1 Chairman and CEO Charles Gassenheimer. "We are deeply committed to providing the highest level of responsiveness and innovation to help FGC achieve the goals of their sweeping modernization of the Russian national power grid."

Safe Harbor Statement

Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

####

About Ener1
Ener1, Inc. is a publicly traded (Nasdaq: HEV) energy technology company that develops lithium-ion-powered battery solutions for the transportation, grid energy storage and consumer markets. The company has over 700 employees, is headquartered in New York, with manufacturing locations in the United States and Korea. Ener1 develops commercial fuel-cell products through its EnerFuel subsidiary and nanotechnology-based materials and manufacturing processes through its NanoEner subsidiary. In collaboration with strategic partner and electric vehicle manufacturer, THINK, Ener1 also manufactures electric vehicle drivetrain products.

About Federal Grid Company
Open Joint-Stock Company Federal Grid Company of the Unified Energy System provides unified national electric grid management to the power industry in the Russian Federation. It offers energy transmission services; technical connection services, including services for electric power consumption (delivery), as well as providing actual connection of consumers' electric devices to the electric grid facilities to legal entities and individuals; and technical maintenance and repair of facilities in the unified national electric grid system. The company also invests in and develops the unified energy system.

About Mobile GTES
Joint-stock company Mobile GTES is a wholly owned subsidiary of Federal Grid Company. It was established in 2006 to deploy and operate mobile gas turbine power stations with a view to maintaining the reliability of the Moscow region's power grid at peak hours in the most effective, safe and ecologically pure manner. Mobile GTES was also created to be able to promptly relocate such power plants to remote regions of Russia with inadequate electricity supplies. The company possesses vast experience in commissioning and operating mobile gas turbine powerplants and selling capacity and power on the wholesale market.

For more information, please click here

Contacts:
Mark D'Anastasio
Emerging Markets Communications, LLC
202 331 7751
202 550-1235

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

A new approach to ultrafast light pulses: Unusual fluorescent materials could be used for rapid light-based communications systems September 19th, 2017

New quantum phenomena in graphene superlattices September 18th, 2017

Do titanium dioxide particles from orthopedic implants disrupt bone repair? September 16th, 2017

Hydrogen power moves a step closer: Physicists are developing methods of creating renewable fuel from water using quantum technology September 15th, 2017

Govt.-Legislation/Regulation/Funding/Policy

New insights into nanocrystal growth in liquid: Understanding process that creates complex crystals important for energy applications September 14th, 2017

Magnetic cellular 'Legos' for the regenerative medicine of the future September 12th, 2017

First on-chip nanoscale optical quantum memory developed: Smallest-yet optical quantum memory device is a storage medium for optical quantum networks with the potential to be scaled up for commercial use September 11th, 2017

High-speed quantum memory for photons September 9th, 2017

Announcements

A new approach to ultrafast light pulses: Unusual fluorescent materials could be used for rapid light-based communications systems September 19th, 2017

New quantum phenomena in graphene superlattices September 18th, 2017

Do titanium dioxide particles from orthopedic implants disrupt bone repair? September 16th, 2017

Hydrogen power moves a step closer: Physicists are developing methods of creating renewable fuel from water using quantum technology September 15th, 2017

Energy

Insect eyes inspire new solar cell design from Stanford August 31st, 2017

The power of perovskite: OIST researchers improve perovskite-based technology in the entire energy cycle, from solar cells harnessing power to LED diodes to light the screens of future electronic devices and other lighting applications August 18th, 2017

Freeze-dried foam soaks up carbon dioxide: Rice University scientists lead effort to make novel 3-D material August 16th, 2017

Two Scientists Receive Grants to Develop New Materials: Chad Mirkin and Monica Olvera de la Cruz recognized by Sherman Fairchild Foundation August 16th, 2017

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

How to draw electricity from the bloodstream: A one-dimensional fluidic nanogenerator with a high power-conversion efficiency September 11th, 2017

A revolution in lithium-ion batteries is becoming more realistic September 5th, 2017

High-tech electronics made from autumn leaves: New process converts biomass waste into useful electronic devices August 30th, 2017

Candy cane supercapacitor could enable fast charging of mobile phones August 17th, 2017

Alliances/Trade associations/Partnerships/Distributorships

Leti and Partners in PiezoMAT Project Develop New Fingerprint Technology for Highly Reliable Security and ID Applications: Ultra-high Resolution Pressure Sensing Uses Matrices of Vertical Piezoelectric Nanowire To Reconstruct the Smallest Features of Human Fingerprints September 5th, 2017

Phenom-World selects Deben to supply a tensile stage as an accessory to their range of desktop SEMs August 29th, 2017

Oxford Instruments Plasma Technology announces a new partner in Korea August 15th, 2017

Moving at the Speed of Light: University of Arizona selected for high-impact, industrial demonstration of new integrated photonic cryogenic datalink for focal plane arrays: Program is major milestone for AIM Photonics August 10th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project