CellCube Announces Enercube Sale to Raptor Rig
Apr 30, 2019, 03:10 ET
TORONTO, April 30, 2019 /CNW/ -- CELLCUBE ENERGY STORAGE SYSTEMS INC. ("CellCube" or the "Company") (CSE: CUBE) (CSE: CUBE.CN) (OTCQB: CECBF) (Frankfurt 01X, WKN A2JMGP) is very pleased announce the wholly-owned subsidiary, EnerCube Switchgear Systems Inc. ("Enercube") has received a significant purchase order on April 15, 2019 for $1,100,000 from Raptor Rig Ltd.("Raptor").
Enercube has once again provided cost effective custom solution to the customer which reduces the total footprint of the switchgear. This design is the first of its kind and involves the integration of third-party equipment. This will be another prestigious job to custom engineer, design, manufacture, and provide testing for 24 sections of 600Vac, 6000 Amps, 50kA bracing generator, and motor control feeder switchgear. Enercube has complied to meet all customer expectation in our product.
"Our Vice President of PowerHaz, Gord Orser, has completed several rig packages that are similar to Raptor Rig requirements and we are confident the execution of this complex system will be a huge success," states Brian Ricker, President & CEO of Enercube.
"Raptor is recognized for bringing new patented technology to the drilling industry," states Brent Layden, EIC Engineering and Maintenance Manager for Raptor. "We chose Enercube because they are able to provide us with electrical equipment that will meet our difficult design requirements, and Enercube is nimble enough to support Raptor throughout the design, build and commissioning process".
Raptor Rig is a Calgary, Alberta, based drilling company bringing proprietary next generation truly automated drilling and coil intervention rigs to the Oil & Gas Industry. Utilizing TARC (Truly Automated Rig Control) and SCS (Simultaneous Connection System), Raptor Rig is able to reduce time based drilling cost by 30+ %, provide fully automated Tripping & Drilling, and the ability to automate and integrate 3rd party equipment. http://raptorrig.com/
About EnerCube
EnerCube Switchgear Systems Inc. is a leading-edge provider of custom and off-the-shelf electrical equipment and systems. The company has been providing innovative and high-quality products for over ten years to heavy power users, pipeline companies, refineries, manufacturers, municipalities and infrastructure providers. It offers a "one stop shop" to its customers in terms of complete turn-key engineering & electrical solutions and equipment. Its key products include electrical switchgear, motor control switchers, solar power inverters and vanadium storage battery installation.
EnerCube designs, manufactures, assembles, integrates, and tests a complete range of industry leading, innovative and dependable power control systems accessories. https://www.enercube.ca/
About CellCube Energy Storage Systems Inc.
CellCube is a Canadian public company listed on the Canadian Securities Exchange (symbol CUBE), the OTCBB (symbol CECBF), and the Frankfurt Exchange (Symbol 01X, WKN A2JMGP) focused on the fast-growing energy storage industry which is driven by the large increase in demand for renewable energy. CellCube supplies vertically integrated energy storage systems to the power industry. Enerox GmbH is the developer and manufacturer of CellCube energy storage systems. CellCube's other subsidiaries are EnerCube Switchgear Systems, PowerHaz Energy Mobile Solutions Inc. The Company has also invested in an online renewable energy financing platform, Braggawatt Energy Inc.
CellCube develops, manufactures, and markets energy storage systems on the basis of vanadium redox flow technology and has over 136 project installations and a 10 year operational track record. Its highly integrated energy storage system solutions feature 99% residual energy capacity after 11,000 cycles (cycling daily for 28 years) and larger scale containerized modules. Basic building blocks consist of a CellCube unit family with 4, 6 and 8 hours variation in energy capacity.
Visit the CellCube team at booth C2.534 at Intersolar/ees Europe in Munich May 15-17, 2019
On behalf of CellCube Energy Storage Systems Inc.,
Stefan Schauss, CEO
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accept responsibility for the adequacy or accuracy of this release.
Glenda Kelly,
Investor Communications
+1-800-882-3213
Email: [email protected]
www.cellcubeenergystorage.com
CellCube Energy Storage Systems Inc.
Ste 10 – 8331 River Road
Richmond, BC V6X 1Y1
393 University Avenue, Suite 1810
Toronto, Ontario M5G 1E6
CSE CUBE 12g3-2(b): 82-2062
OTCQB CECBF Frankfurt 01X, WKN A2JMGP
www.cellcubeenergystorage.com
SOURCE CellCube Energy Storage Systems Inc.
