Date: Feb 1, 2019
TORONTO, Jan. 31, 2019 /PRNewswire/ — CELLCUBE ENERGY STORAGE SYSTEMS INC. (“CellCube” or the “Company”) (CSE: CUBE) (OTCQB: CECBF) (Frankfurt 01X, WKN A2JMGP) and Immersa Limited (“Immersa”) are pleased to announce a strategic partnership to deliver large scale vanadium redox flow battery systems into the UK market.
CEO of Immersa, Robert Miles said, “We have been active in the UK storage sector for nearly three years and have already seen an enormous change in the application of the technology and the revenues that are derived from them. We see a definite move towards longer duration batteries as energy users look to become more independent from the grid. We have designed systems that used multiple generation technology and by installing in combination with these long duration batteries, we have shown that it is both possible and commercially feasible to generate, store and consume power that has been self-produced.” immersa.co.uk
Alexander Schöenfeldt, Managing Director for CellCube, continued; “Having had a long relationship with Immersa we are delighted to be working with them as our strategic partner in the UK. We are already running multiple scenarios with a number of industrial and commercial users and are confident with the results.”
Battery storage has already demonstrated its ability to reduce costs in the Enhanced Frequency Response (“EFR”) and Firm Frequency Response (“FFR”) market that was set up to create a route for batteries to bid to be part of the power grid. Now that the peak demands get into multiple hours and the capacity market offers business opportunities the vanadium redox flow system will show its strength with extended performance warranties, dramatically increased battery cycles and near zero capacity degradation. The levelized costs of vanadium storage had dropped dramatically and will continue to do so.
