Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

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

Tough foam from tiny sheets: Rice University lab uses atom-thick materials to make ultralight foam July 29th, 2014

Zenosense, Inc. July 29th, 2014

Optimum inertial design for self-propulsion: A new study investigates the effects of small but finite inertia on the propulsion of micro and nano-scale swimming machines July 29th, 2014

A new way to make microstructured surfaces: Method can produce strong, lightweight materials with specific surface properties July 29th, 2014

Govt.-Legislation/Regulation/Funding/Policy

Tough foam from tiny sheets: Rice University lab uses atom-thick materials to make ultralight foam July 29th, 2014

A new way to make microstructured surfaces: Method can produce strong, lightweight materials with specific surface properties July 29th, 2014

Seeing is bead-lieving: Rice University scientists create model 'bead-spring' chains with tunable properties July 28th, 2014

Stanford team achieves 'holy grail' of battery design: A stable lithium anode - Engineers use carbon nanospheres to protect lithium from the reactive and expansive problems that have restricted its use as an anode July 27th, 2014

Announcements

Tough foam from tiny sheets: Rice University lab uses atom-thick materials to make ultralight foam July 29th, 2014

Zenosense, Inc. July 29th, 2014

Optimum inertial design for self-propulsion: A new study investigates the effects of small but finite inertia on the propulsion of micro and nano-scale swimming machines July 29th, 2014

A new way to make microstructured surfaces: Method can produce strong, lightweight materials with specific surface properties July 29th, 2014

Energy

Oregon chemists eye improved thin films with metal substitution: Solution-based inorganic process could drive more efficient electronics and solar devices July 21st, 2014

Steam from the sun: New spongelike structure converts solar energy into steam July 21st, 2014

3-D nanostructure could benefit nanoelectronics, gas storage: Rice U. researchers predict functional advantages of 3-D boron nitride July 15th, 2014

Nanotechnology that will impact the Security & Defense sectors to be discussed at NanoSD2014 conference July 8th, 2014

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics

Tough foam from tiny sheets: Rice University lab uses atom-thick materials to make ultralight foam July 29th, 2014

Stanford team achieves 'holy grail' of battery design: A stable lithium anode - Engineers use carbon nanospheres to protect lithium from the reactive and expansive problems that have restricted its use as an anode July 27th, 2014

Nano-supercapacitors for electric cars July 25th, 2014

Compact Vibration Harvester Power Supply with Highest Efficiency Opens Door to “Fix-and-Forget” Sensor Nodes July 23rd, 2014

Alliances/Partnerships/Distributorships

SouthWest NanoTechnologies Names NanoSperse as A SWeNT Certified Compounder July 29th, 2014

ACS Biomaterials Science & Engineering™: Brand-new journal names editor July 29th, 2014

A*STAR and industry form S$200M semiconductor R&D July 25th, 2014

Organometallics welcomes new editor-in-chief: Paul Chirik, Ph.D. July 22nd, 2014

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







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE