Ideal Power Secures 2 Energy Storage Contracts

Ideal Power received initial purchase orders for 20 units of its 30 kW battery converter from two un-named commercial customers in California.

The State of California requires at least 1.3 GW of energy storage to be procured by 2020, a part of which will be behind-the-meter commercial installations. The commercial energy storage systems can be used to store energy locally, on-site to help businesses offset peak demand. The systems are designed to release energy during their peak load periods.

The identities of the Battery Energy Storage System (BESS) integrators and project details are protected by customer non-disclosure agreements, but Ideal Power expects to make joint announcements on specific customer installations when they are operational.

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