The first 40MWs of Energy Storage as Part of the Agreement Bound for New Jersey

SOUTH BURLINGTON, Vt., April 17, 2018 (GLOBE NEWSWIRE) -- Dynapower, a global leader in energy storage, is pleased to announce it has reached a master supplier agreement with Viridity Energy Solutions, Inc. to supply inverters and fully-integrated energy storage systems for utility-scale and behind the meter energy storage projects.  The first projects Viridity chose Dynapower for are two 20MW/20MWh stand-alone in-front-of-the-meter battery energy storage installations in New Jersey scheduled to come online in 2018.  These projects totaling 40MWs were designed and will be financed, constructed, owned and operated by Viridity.  

Each New Jersey site is identical and will use Dynapower’s utility-scale CPS-2200 inverters as part of Dynapower’s IPS-2200 utility-scale battery energy storage system (BESS). Dynapower’s fully integrated IPS-2200 includes inverters, batteries and enclosures, coordinating site controls and all battery thermal management. The system features AC and DC close-coupling, as well as advanced controls for battery protection during prolonged grid outages. Viridity’s engineering, procurement and construction (EPC) and owner will utilize its market leading VPower™ software to provide the optimization, economic value stacking and automated control of the BESS to deliver the optimal economic return.

“We are pleased to partner with Viridity with the execution of our master supply agreement and are excited to be building our first two utility-scale projects together,” said Dynapower President Adam Knudsen. “Viridity and their parent company Ormat Technologies are perfect partners for Dynapower to work alongside to continue our expansion in both the utility-scale and behind the meter energy storage markets. We look forward to working with Viridity to further the global deployment of energy storage.”

“Combining Dynapower’s proven inverter technology along with their capabilities in providing fully integrated battery energy storage systems fully compliments Viridity’s and Ormat’s engineering project management and market leading end-to-end energy management optimization and battery storage solutions.  The combination of Dynapower’s market leading technology with Viridity’s and Ormat’s EPC and business development capabilities will drive continued growth for both companies,” said Viridity Energy Solutions CEO Mack Treece. Viridity, Ormat and Dynapower worked together to define the system design for the optimal operation and control of the battery system use and health in the PJM market.

About Dynapower
Founded in 1963 with offices in So. Burlington, VT and Union City, CA, Dynapower has deployed over 400MWs of energy storage inverters, DC Converters, and fully-integrated energy storage systems. Dynapower energy storage inverters power the nation’s largest wind plus storage farm in NoTrees, TX (36MWs), the nation’s first utility-scale solar-plus-storage facility in Rutland, VT, the nation’s largest NetZero building in Los Angeles and have helped island nations transition to running on 100% renewable energy. Additionally, Dynapower’s MPS-250 was the first energy storage inverter to receive UL 1741-SA Smart Inverter designation, and the DPS-250 is the first DC-DC converter to be successfully deployed with a utility-scale PV array. In 2017, Dynapower was also granted a patent for its groundbreaking Dynamic Transfer technology which monitors the grid and seamlessly transitions a facility from grid-tied to battery backup power in the case of a grid disturbance providing critical resiliency for commercial and industrial businesses.

About Viridity Energy Solutions, Inc.
Viridity Energy Solutions, a wholly owned subsidiary of Ormat Technologies, Inc., is a leading battery storage and distributed generation, demand response, and demand management solution provider. Through its unique, flexible and turn-key VPower™ software and services platform, Viridity maximizes energy revenue and savings for its customers. Viridity empowers customers to cut their electricity expenses through best-in-class proprietary peak shaving algorithms, and its market leading VPower™ optimization software, that ensures the best economic return for each KW of flexible energy load, including generating revenue for customers in the wholesale energy markets. Viridity is a market leader in advanced distributed energy resources (“DER”) with a specific focus on battery storage and by combining the skills of Viridity with its parent company Ormat, Viridity brings to market the unique ability to provide a broad, end-to-end DER solution to customers either as a service, with no capital outlay by the customer, or as a sale.

Contact Name: Richard Morin                       
Organization: Dynapower
Phone Number: 802.999.1566
Email: rmorin@dynapower.com

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