The electrical energy storage market is a multibillion dollar elastic market growing at 35% a year. Utility-scale storage growth is being driven by a confluence of factors including the high cost of managing electric grid peaks, increased penetration of intermittent renewable wind and solar energy, and large investments in grid infrastructure for reliability and smart grid initiatives. Distributed, low cost storage is a unique solution that attacks these key pain points.
Primus Power’s unique distributed energy storage system offers important innovations that directly enable:
1. Industry-low cost: competitive with current fossil fuel peaking generators
2. High reliability and a 20 year life
3. Rapid deployment capability: allowing customers to operate the system in a few months compared to the traditional two to four years for gas generators
4. Scalable, transportable and modular installations: facilitating a rapid return on investment and a long useful life.
Since its founding two and a half years ago Primus has attracted key customers, investors and strategic grants validating its technology, differentiation, and momentum towards grabbing a piece of the $22 billion worldwide energy storage market projected by 2020:
• The Modesto Irrigation District, a 640 MW utility in California’s central valley, has given Primus a letter of intent for energy storage systems totaling 28 MW in size.
• Primus is the only company to receive strategic grants from US Department of Energy Smart Grid Demonstration Program, Advanced Research Projects Agency–Energy, and California Energy Commission.
• Primus has received four US patents and has twenty-one additional patents pending worldwide.
• Primus closed a second round of venture capital in May2011 raising from top tier investors including Kleiner Perkins Caufield & Byers (US), Chrysalix Energy Venture Capital (Canada), DBL Investors (US) and i2BF Global Ventures (Russia).
• Primus’ innovative technology has recognized by:
o US Vice-President Joe Biden: 2011 Pioneering Energy Company
o San Francisco Business Times: 2011 Cleantech Award – Energy Storage Winner
o AlwaysOn: 2011 GoingGreen Global 200 Top Private Companies
o Red Herring: 2012 North America Finalist
o Clean Technologies & Sustainable Industries Organization: 2012 Utility Technology Challenge Finalist
Primus Power: Smart Grid Storage™
Primus Power’s EnergyCells have a number of innovative design features that enable very low cost, extremely high power density, excellent reliability and long life. EnergyCells are packaged in arrays to create an EnergyPod™: a containerized energy storage product for utilities, renewable energy developers, companies and campuses. Our systems economically address short duration and multi-hour energy storage applications. Our technology stands to revolutionize the economics, stability, and security of the electric grid, while accelerating the incorporation of renewable wind and solar energy