Ideal Power wins purchase orders for 30kW battery converter products
Ideal Power has secured several new purchase orders for more than 3.5MW of its 30kW battery converter products.
The contracts were received from two companies engaged in the energy storage system (ESS) industry.
Ideal Power plans to deliver the products between October 2014 and early 2015.
The converters will be incorporated into energy storage systems targeting retail demand charge reduction in California and various other states in the US.
Ideal Power said the typical installation utilizes between one and eight 30kW units in a commercial building with high peak loads like retail, office and professional buildings.
Ideal Power chief executive officer Dan Brdar said: "Several of Ideal Power's customers are increasing the number of planned installations that use our market leading products.
"Our battery converter being sold into the commercial energy storage market is the first of several power management markets that we are targeting with our solutions."
Analytics firm IHS expects the commercial grid-tied battery systems co-sited with PV to increase to 643MW by 2018 from 36MW of worldwide installations in 2014.
Ideal Power has developed a novel, patented power conversion technology, dubbed Power Packet Switching Architecture (PPSA), which the company claims will improve the size, cost, efficiency, flexibility and reliability of electronic power converters.
PPSA can scale across various markets, including solar photovoltaic generation, electrified vehicle charging, and commercial grid storage.