Viridity Energy’s Business to be Acquired by Ormat Technologies

Viridity Energy’s Business to be Acquired by Ormat Technologies

North American Clean Energy – (04 Jan 2017) Viridity Energy, Inc., a leading demand response, demand management, and battery storage solutions provider, announced that Ormat Technologies, a global geothermal and renewable energy company that has over five decades of experience, has signed a definitive agreement to acquire substantially all of Viridity’s business and assets in a cash transaction.
Ormat will pay Viridity’s shareholders an initial consideration of $35 million at closing. Additional contingent consideration will be payable in two installments upon the achievement of certain performance milestones measured at the end of fiscal years 2017 and 2020.

Eos Energy Storage Assembles World-Class Advisory Board to Support Global Business Expansion

Eos Energy Storage Assembles World-Class Advisory Board to Support Global Business Expansion

NEW YORK–(BUSINESS WIRE)–Eos Energy Storage (“Eos”) – pioneer of the safe, ultra-low cost Znyth® battery – today announced a number of appointments to the company’s Advisory Board. The advisors will lend strategic guidance as Eos transitions to become a customer-facing product company and will help to expand commercialization of Eos’ innovative energy storage technology globally and in markets beyond utilities –including commercial, industrial, and military applications.

Newly appointed Advisory Board members include:

* Steven Chu, former U.S. Secretary of Energy, American physicist and Nobel Laureate, and former Director of the Lawrence Berkley National Laboratory

* Jerry Yang, Founding Partner of AME Cloud Ventures, co-founder of Yahoo! Inc.

* Lawrence H. Summers, former U.S. Secretary of the Treasury, former Director of the U.S. National Economic Council, and….

Western Interconnect Announces Open Season for Transmission Service Rights on the Western Interconnect Project

Western Interconnect Announces Open Season for Transmission Service Rights on the Western Interconnect Project

SAN FRANCISCO, CA–(Marketwired – Oct 17, 2016) – Western Interconnect LLC (“WI”) launched on October 3, 2016, an Open Season process to allocate up to 603 MW of transmission rights on its proposed transmission line in New Mexico. Through this Open Season, WI will solicit Transmission Service Requests (“TSR”) from parties willing to acquire firm transmission service rights at the same rates, terms and conditions as offered to anchor customers on the line. The TSR submission window will conclude on November 11, 2016. Interested parties can access the WI Open Season website (www.WesternInterconnect-os.com), which contains additional information about the project and the Open Season process.

Eos Energy Storage Raises $23M to Scale Up Zinc-Based Grid Battery Production

Eos Energy Storage Raises $23M to Scale Up Zinc-Based Grid Battery Production

Eos Energy Storage, the startup that’s attracted utility interest from around the world in its low-cost, zinc-based batteries, is raising money to build more of them, and to get those units out in the field. Deployments are needed to prove the company’s bold claims of multi-hour, long-lasting energy storage at a cost of $160 per kilowatt-hour.

On Tuesday, Eos announced the initial closing of a sale in a private placement of approximately $23 million. The New York-based startup previously raised $23 million in May 2015 in a round led by AltEnergy, and about $27 million in two previous funding rounds from investors including OCI, NRG Energy and Fisher Brothers.

Viridity Energy Awarded Key Patent for Energy Storage Used With Rail Systems and Electric Vehicles

Viridity Energy Awarded Key Patent for Energy Storage Used With Rail Systems and Electric Vehicles

PHILADELPHIA, PA–(Marketwired – Jun 28, 2016) – Viridity Energy, Inc., announced today that the U.S. Patent and Trademark Office has awarded it a patent for systems and methods used to generate an operating schedule for energy storage assets, such as batteries, used in connection with transportation systems, such as rail operations, and with electric vehicles. The patent reflects the value stacking capabilities of Viridity software, which maximizes the value of flexible load, energy assets and energy storage. It is the latest in a series of patents awarded to Viridity, including patents related to data center operations and battery/solar asset-combined operations.

The new patent addresses a variety of functions, including optimizing use of the storage asset to maximize the combined market revenue derived from integration of storage into regional markets…

Viridity Energy Raises $8.5 Million in Growth Round

Viridity Energy Raises $8.5 Million in Growth Round

PHILADELPHIA, PA–(Marketwired – May 12, 2016) – AltEnergy, LLC, an investment firm that identifies and develops early-stage opportunities in high-growth power and energy sub-sectors such as energy storage, demand response, demand management, high-voltage transmission, renewables and cybersecurity, announced today that it has closed on an $8.5 million investment in Viridity Energy, Inc., a leading demand response, demand management, and battery storage solutions provider.

Since its inception in 2009, Viridity Energy has been providing award-winning VPower™ demand response and demand management software technology and services, along with battery storage solutions.

Eos Energy Storage to demonstrate behind-the-meter battery systems at UC San Diego

Eos Energy Storage to demonstrate behind-the-meter battery systems at UC San Diego

Eos Energy Storage will demonstrate residential and commercial battery systems at the University of California San Diego, with the support of a $2 million award from the California Energy Commission.

Eos is partnering with global original equipment manufacturers to package, distribute, and support mass market products using the company’s Znyth battery technology.

Eos manufactures grid-scale battery solutions designed to support 4-hour locational capacity with levelized cost of energy. The company’s core product — the Aurora 1000│4000 — is a 1 MW | 4 MWh DC battery system which is now being sold at a volume price of $160 per usable kWh while supporting more than 5,000 full depth of discharge cycles or about 15 years of continuous operation. Utilities and developers are using the Aurora solution for peak shaving, frequency response and renewable integration.

SEPTA Wins State Environmental Award

SEPTA Wins State Environmental Award

An innovative program to save energy and produce revenue by capturing the power generated by rapid transit trains as they brake has earned SEPTA the state’s highest honor for commitment to the environment.

At yesterday’s SEPTA board meeting, the state Department of Environmental Protection bestowed the Governor’s Award for Environmental Excellence t0 the agency for its wayside energy storage project at the Griscom substation on the Market-Frankford Line. The Griscom storage facility was the second such battery installation on the line; the success of this facility and an earlier one at Letterly substation led SEPTA to expand the program systemwide and add a revenue-producing power management component to it in partnership with Viridity Energy, which sells excess storage capacity to the PJM Interconnection power pool when needed.

SEPTA, Constellation, and Viridity Energy Announce 8.75-Megawatt Energy Storage Project

SEPTA, Constellation, and Viridity Energy Announce 8.75-Megawatt Energy Storage Project

PHILADELPHIA–(BUSINESS WIRE)–A battery storage network, which captures and reuses the energy created by braking subway cars, will help Southeastern Pennsylvania Transportation Authority (SEPTA) reduce operating costs, ensure energy resiliency, and support the stability of the electrical grid.

“Our ground-breaking regenerative braking pilot at SEPTA proved that energy storage can be used by transit systems to create substantial cost savings, generate revenue, and contribute to sustainability goals”

Constellation, a subsidiary of Exelon Corporation, will fund, own, and operate the 8.75-megawatt battery storage network, deployed at seven SEPTA substations. The network is designed to use stored energy to power trains as they accelerate from stations and can provide emergency generation for trains in the event of a power outage. An expansion of SEPTA’s 1.8 MW battery storage pilot program completed in 2014, the new network brings the agency’s total battery storage capacity to more than 10 MW.

“SEPTA’s Sustainability Program is all about finding and deploying cutting-edge innovations to reduce costs in addition to improving environmental performance. This project is right in that sustainability sweet spot, and we are pleased to partner with Constellation and Viridity in bringing it to market right here in the Philadelphia region, an emerging hub for innovative energy projects,” said SEPTA General Manager Jeffrey D. Knueppel.

Half Moon Ventures Selects Viridity Energy to Operate Largest Solar + Storage Project in Continental U.S.

Half Moon Ventures Selects Viridity Energy to Operate Largest Solar + Storage Project in Continental U.S.

Viridity Energy, a leading software technology company focused on total energy management, announced today that it has been selected to operate the largest solar + storage project to be constructed in the United States. The Village of Minster, Ohio is developing a 4.2MW solar array paired with a 7.5MW storage system, integrated by S&C Electric. Energy produced by the solar array will be stored in batteries and deployed by Viridity’s market operations center in high-value applications that keep the grid in balance and provide back-up power support.