2014 TiE50 Company Profile

  
Company: Primus Power
Location: 3967 Trust Way, Hayward, CA, USA - 94545
Website: http://www.primuspower.com
 

Overview:

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 five 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:
•	Shipments to Puget Sound Energy – a 6,000 MW utility headquartered in Seattle
•	Shipments to the Marine Corps Air Station in Miramar, CA where the Primus EnergyPod® will be a critical part of a microgrid.
•	Shipment to the Modesto Irrigation District, a 640 MW utility in California’s central valley. 
•	Primus is the only company to receive strategic grants from US Department of Energy Smart Grid Demonstration Program, Advanced Research Projects Agency–Energy, California Energy Commission, and the Bonneville Power Administration.
•	Primus has been granted 15 patents and has 45 additional patents pending worldwide.
•	Primus closed a 3rd round of funding in 2013 raising from top tier investors including Kleiner Perkins Caufield & Byers (US), Chrysalix Energy Venture Capital (Canada), DBL Investors (US) and i2BF Global Ventures (Russia), and Anglo American Platinum the world’s leading primary producer of platinum group metals. 
•	Primus’ innovative technology has recognized by:
o	Platts Global Energy Awards, Strategic Vision-Rising Star Finalist • Dec-13
o	Defense Energy Technology Challenge Winner • Sep-13
o	CeraWeek Energy Innovation Pioneer Winner • Apr-13
o	Global Cleantech 100 Finalist • Oct-12 and Oct-13
o	Going Green Global 200 Top Private Companies • Nov-12 and Oct-11
o	Clean Technology and Sustainable Industries Organization Utility Technology Challenge Finalist • Jun-12
o	The Indus Entrepreneurs 50 Hottest Energy Start-Ups • May-12
o	Red Herring North America 100 Finalist • May-12
o	US Vice President Joe Biden and Energy Secretary Steven Chu Pioneering Energy Company • Oct-11
o	San Francisco Business Times Cleantech Award • Jun-11
o	Electricity Storage Association Phil Symons* Award • Rick Winter • Jun-11

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.

Share this on Facebook  google  Twitter  newsvine  Stumble Upon  Technorati  Share this on del.icio.us  Digg this  Email  
Vote for your favorite company by entering an email address for every vote.
Enter your Email ID:    Thumbs UP0 LikesThumbs Down0 dislikes