Imergy partnership news due “before Christmas”

Vanadium redox flow battery company Imergy will make a major strategic partnership announcement this year. Photo credit: Imergy Power Systems

Vanadium redox flow battery company Imergy will make a major strategic partnership announcement this year. Photo credit: Imergy Power Systems

By Jason Deign

Tim Hennessy, president of the vanadium redox flow battery developer Imergy Power Systems, has said his company is readying to make a major strategic partnership announcement before Christmas.

“There are some significant strategic opportunities that are in place,” he told Energy Storage Report, saying the un-named partnerships were “truly a good fit with multiple benefits in sales, bankability, supply chain, those kinds of things.”

Securing strategic partnerships is seen as an important step in improving the bankability of the company, which is continuing to seek investors alongside existing backers such as BlueRun Ventures and New Enterprise Associates.

“We’re always looking for investors. That’s one of the challenges for startups or early-stage companies and we need to get through that,” Hennessy said.

“Hence strategic partnerships are key because if you can focus on just going forward with good bankability capability then you get to the market much quicker and more effectively. We’re out there raising funds at the moment.”
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Renewable producers target short-term storage

Independent power producers and energy storage: IPPs are likely to focus on short-term energy storage in markets like California, SunEdison says. Photo: A SunEdison Outdoor Microstation

Independent power producers and energy storage: IPPs are likely to focus on short-term energy storage in markets like California, SunEdison says. Photo: A SunEdison Outdoor Microstation.

By Jason Deign

Independent power producers (IPP) considering the booming California energy storage market will most likely target short-term, power-based applications, Energy Storage Report has learned.

“IPPs will focus on power applications just because of the design of the [storage] target,” said SunEdison’s director of Grid Energy Storage, Faisal El Azzouzi, ahead of his appearance at Energy Storage USA 2015.

SunEdison is evaluating energy storage technologies and applications with a view to possible deployment in California, where a 1.3GW mandate through Assembly Bill 2514 (AB2514) is creating interest in new projects.

However, said El Azzouzi, the structure of the Californian market drives IPPs to focus on short-term storage applications and leave longer-duration tasks, such as energy shifting, to the utilities.
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