VANCOUVER, April 12 /PRNewswire-FirstCall/ -- VRB Power Systems Inc. (TSX-V: VRB) announces an update on its 5kW systems:
- Recent 5kW x 4hr VRB-ESS(TM) sales have been made to the University
of Aalborg in Denmark for evaluation in renewable (off grid wind and
solar) applications and to Edison SPA in Italy for evaluation in
Italian telecoms back-up applications;
- 10 pre-production 10kWh systems and one 30kW x 2hr system were
shipped in 2006. All of these systems have been commissioned and are
either being tested in laboratory or in the field;
- Performance has been in line with expectations with the core
technology performing well;
- Feedback has been incorporated into the new commercial design of the
Company's 5kW systems which will be available for delivery from mid
2007 and has helped improve the flexibility of storage duration and
the efficiency and controllability of the systems;
- The costs of the commercial 5kW systems have been significantly
reduced from the pre-commercial version and are in line with expected
cost reductions;
- The commercial 5kW VRB-ESS(TM) will be unveiled in Chicago in June,
2007 at the NxtComm Show;
- The focus for these 5kW systems continues to be on telecoms back-up
applications as well as RAPS and off grid renewable applications; and
- VRB Power continues to strengthen its worldwide patent portfolio with
the recent granting and filing of new patents covering its latest
system and key applications.
"I am pleased with the work that has been done by our engineering team in developing a commercial 5kW multi-hour system, which provides a flexible, easy to customize solution for our customers and which, at target pricing, will generate positive margins on launch in mid 2007," said Tim Hennessy, CEO of VRB Power Systems. "I am also pleased with how our pre-production systems have operated so far in laboratory and field testing in a variety of applications and I am encouraged by customer feedback. This, together with the work that our sales team and channel partners have done in marketing and positioning these systems in our target markets, gives me confidence that, once the testing / evaluation phase of this product is concluded, we will generate significant sales for this product. We continue to expand our assembly capability at our Richmond facility and remain on track to have the capacity to assemble 2,500 5kW cell stacks per shift per year from the end of 2007," concluded Hennessy.
About VRB Power
Headquartered in Vancouver, Canada, VRB Power Systems Inc. is an energy storage technology developer which is marketing, selling and manufacturing products utilizing the patented VRB Energy Storage System ("VRB-ESS(TM)"). The VRB-ESS can economically store and supply large amounts of electricity on demand and is focused on stationary applications. It is a long life, cost effective, low maintenance, efficient technology that allows for the scalability of power and storage capacity independently. The VRB-ESS is particularly beneficial to renewable energy providers, utilities and end users through its ability to "inventory" electricity, allowing for the optimal match of supply and demand.
The VRB-ESS is well suited for a variety of applications. Enabling the provision of "firm" capacity from intermittent renewable generation such as wind and solar; more cost effective and efficient generation of electricity in remote areas; capital deferral for utilities; and load levelling (peak shaving) applications. The VRB-ESS is also capable of providing backup power solutions including applications for utility sub-stations and telecommunication sites. The VRB-ESS is characterized by having the lowest ecological impact of all energy storage technologies and is unlike most other conventional energy storage systems that rely on substances such as lead or cadmium.
Caution regarding forward-looking statements: VRB Power's press releases may contain forward-looking statements. These statements are based on management's current expectations and beliefs which are subject to a number of known and unknown risks and uncertainties (including, but not limited to, the risk factors described in VRB Power's Annual Information Form filed with the British Columbia Securities Commission and available at http://www.sedar.com/) that could cause actual results to differ materially from those expressed or implied in our forward-looking statements. The Company does not assume any obligation to update any forward-looking statements contained in this press release.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Simon Clarke,
Executive Vice President, Corporate Development,
