VRB Power Systems Identified as Potential Supplier of Two VRB-ESS(TM) for Wind Project
Wednesday October 22, 8:30 am ET
RICHMOND, BC, Oct. 22 /CNW/ - VRB Power Systems Inc. (TSX-V: VRB - News) announces it has been identified by Scotian Windfields Inc. ("Scotian Windfields"), a Nova Scotia community-owned wind company, to potentially supply two 60kW x 4hour VRB Energy Storage Systems(TM) (VRB-ESS) for a pilot wind project funded by the ecoNova Scotia program. Scotian Windfields has up to 18 months to use a $350,000 grant it received in federal funding to demonstrate renewable energy battery storage systems in Nova Scotia as part of a larger wind project, and will work with VRB and Nova Scotia Power over the next few months to finalize all aspects of the purchase agreement. The estimated cost for the entire project is CAD $1,770,000.
"Development and deployment of energy storage technology is an essential milestone towards achieving energy independence through greater incorporation of renewable energy in Nova Scotia," says Dan Roscoe, Chief Operating Officer of Scotian WindFields. "We have been working for some time to show that Nova Scotia can harvest 100% of its energy needs from renewable sources, and proving the effectiveness of energy storage technologies will be an important part of that goal."
Scotian Windfield's project was just one of 21 that received $2.6 million in a funding announcement made Monday by Nova Scotia's Environment Minister Mark Parent at the opening of the Power of Green conference in Halifax, hosted by the provincial Economic Development Department. For more information, please refer to the announcement released by the ecoNova Scotia program at
http://www.gov.ns.ca/econovascotia/pdf/EcoNovaScotia-Backgrounder-2008.pdf.
Further information and specific details regarding the VRB-ESS system size, specifications and cost will be released when finalized with the parties involved. The sale is subject to execution of final contracts and consequently no assurances can be given at this time that the arrangements as currently proposed will be completed.
About Scotian WindFields
Scotian WindFields Inc. is a Nova Scotian corporation that is dedicated to ensuring Nova Scotians take ownership of the province's abundant renewable energy resources. The company was formed by an agreement among eight Nova Scotian community-owned WindFields Community Economic Development Corporations. Scotian WindFields Inc is mandated to develop investment opportunities in renewable energy for funds raised within Nova Scotia by the eight community WindFields. www.scotianwindfields.ca
About NS ecoNova Scotia
To help achieve the goals of the Environmental Goals and Sustainable Prosperity Act, Nova Scotia created the ecoNova Scotia Program for Clean Air and Climate Change. It's a $42.5 million initiative to help spur projects that reduce greenhouse gas emissions and other air pollution. The ecoNova Scotia funding supports many different initiatives. The Capital District Health Authority is using the ecoNova Scotia Program to speed the fuel conversion of its many health facilities, from oil to natural gas. Funding has been awarded to everything from tidal power projects to energy efficiency initiatives. The ecoNova Scotia Program for Clean Air and Climate Change also encourages opportunities for Nova Scotians through the Municipal and Environmental Technology Programs. Grants worth $17 million are available for Nova Scotia projects that can show direct emission reductions. www.gov.ns.ca/ecoNovaScotia
About VRB Power
Headquartered in Richmond, Canada, VRB Power Systems Inc. is an energy storage company 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.
Vince Sorace
President
