VANCOUVER, July 25 /CNW/ - VRB Power Systems Inc. (TSX-V: VRB) announces
that the University of South Florida, in partnership with Progress Energy
Florida, has purchased two 5kW x 4hr VRB Energy Storage Systems(TM), which it
will integrate with a solar project on the St. Petersburg campus of the
University of South Florida. This project is aimed at evaluating the storage
of intermittent solar photovoltaic energy and utilizing that energy at a time
of maximum benefit to the customer and utility power systems. The two sites
will enable the evaluation of the potential of these advanced energy storage
systems for a number of power system applications.
John Davis, director of VRB, says, "VRB Power has developed as its
standard small system offering, a 5kW 4 hour unit focused on the
telecommunications sector. It is very exciting to see that this same platform
can also form the basis for PV market applications, such as with Progress
Energy. This demonstrates the flexibility and potential of the VRB flow
battery and dramatically increases our market potential."
"The continued development of renewable energy is part of our balanced
approach to meeting growing customer demand, and it will play a vital role in
our energy future," said Jeff Corbett, Progress Energy Florida's senior vice
president of Energy Delivery. "This system will allow storage of renewable
energy for later use, when it is needed the most, such as very hot or very
cold days. This partnership with USF will help enhance utilities' use of
renewable energy, and it will also serve as an educational platform for USF
students."
The Power Center for Utility Explorations (PCUE) at the University of
South Florida is the group performing the design, installation, modeling and
simulation. PCUE Director Alex Domijan and Assistant Director Arif Islam will
seek to transform this pilot effort into a practical application for other
utilities to emulate for the benefit of their customers. The use of renewable
energy sources will advance the state-of-art reduction of the carbon footprint
and mitigate climate change with widespread use of an installed system.
About Progress Energy
Progress Energy, headquartered in Raleigh, N.C., is a Fortune 250
diversified energy company with more than 23,000 megawatts of generation
capacity and $10 billion in annual revenues. The company's holdings include
two electric utilities serving approximately 3 million customers in North
Carolina, South Carolina and Florida. Progress Energy's non-regulated
operations include energy marketing. Progress Energy is the 2006 recipient of
the Edison Electric Institute's Edison Award, the industry's highest honor, in
recognition of its operational excellence. In 2005, the company also received
the prestigious J.D. Power and Associates Founder's Award for dedication,
commitment and sustained improvement in customer service. For more information
about Progress Energy, visit the company's Web site at progress-energy.com.
About University of South Florida
The University of South Florida (USF) is a major Research 1 university
located in the Tampa Bay area of Florida. USF has about 45,000 students,
several regional campuses and an annual operating budget of over $1 billion.
Last year, USF was tied for the highest research growth rate in the USA. USF
has 11 colleges and offers more than 7000 courses. For more information about
Power Center for Utility Explorations (PCUE) & University of South Florida
(USF), visit the web site at http://pcue.eng.usf.edu/Webpages/index.htm and
http://www.usf.edu/ respectively.
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 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
For further information: VRB Power Systems Inc. at (604) 697-8820;
Investor Relations at (604) 697-8835 or visit the company's web site at:
www.vrbpower.com; Progress Energy Florida's 24-hour Media Line:
1-866-520-6397
