AUSTIN, TX--(Marketwired - Dec 12, 2016) - Ideal Power Inc., (
"The Living Energy Project will be an excellent showcase for our power conversion technology enabling energy storage to be integrated directly with a solar tracking system," said Dan Brdar, CEO of Ideal Power. "The project will demonstrate the intersection of oilfield services and renewable energy. The mobile solar PV system used at Leduc #1 will utilize a much cleaner and lower cost method to power remote, off-grid facilities than a traditional oil-fired diesel generator."
The Leduc #1 Energy Discovery Centre is located just outside of Edmonton, Alberta, and is the site of the initial oil well that kick-started the province's entrance to the oil industry in 1947. The now abandoned well has been converted into an energy museum and 55-acre park focused on the demonstration of environmental technology. The renewables integration and geothermal conversion are part of a plan to turn Leduc #1 into the world's first carbon neutral oil museum.
"For any renewable energy project that incorporates battery storage, Ideal Power offers the perfect power conversion technology because it allows us to deliver a solution that dramatically boosts efficiency and reliability, but with dramatically lower system costs for integrating solar power and energy storage," said Jurgen Krehnke, CEO for the Americas at KACO new energy. "The installation at Leduc #1 is particularly important because it will be a visual, working representation of the past meeting the future, highlighting our declining dependence on fossil fuels coupled with the ingenuity that promises a clean energy future."
Ideal Power's grid-resilient PCS is smaller, lighter, and more cost effective than traditional power conversion systems. For integration of solar with energy storage, the embedded power management algorithms deliver PV smoothing and PV firming for grid-tied applications and enable the deployment of high performance PV-based microgrids. PPSA™ also increases round-trip efficiency, which results in lower operational expenditures and combined with the reduction in material, manufacturing, shipping and installation costs greatly improves return on investment for a project owner.
About Ideal Power Inc.
Ideal Power Inc. (
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. In particular, the Living Energy Project is a development-stage project, and our discussion of the use of our products within that project is forward-looking in nature. 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, the risk that the Living Energy Project may not proceed on the timeline we anticipate, or the use of our products and their impact on the project may ultimately be different than we currently expect. Other risks 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:
Ideal Power Inc. Investor Relations Contact:
MZ North America