Market enables offtake agreement resources for independent system and regional transmission operators.
TORONTO — CellCube Energy Storage Systems Inc. has signed an agreement with a US-based energy asset development company to develop up to 100 megawatt (MW) of energy storage systems for deployment throughout the US.
Financial details and the name of the customer were not provided.
The Toronto-based supplier of energy storage systems said the market it’s entering enables offtake agreement resources for independent system and regional transmission operators through product and service deliveries into scheduled projects and will be deployed over a period of the next 24 to 36 months.
“The company is signaling a long awaited milestone for deployments of energy storage systems in new capacity driven market applications based on the vanadium redox flow technology,” said Stefan Schauss, president of CellCube. “CellCube is moving into focus for grid capacity applications and these projects position the company to become a reliable partner in energy storage as grid capacity.”
The company will develop projects to deploy CellCube energy storage systems. They’ll be placed as stand alone plants or collocated with solar to offer power market-traded energy supply and ancillary services.
CellCube develops, manufactures, and markets energy storage systems based on vanadium redox flow technology and has over 136 project installations.