CONCORD, N.C.--(BUSINESS WIRE)--Alevo Group, the Energy Storage Provider, today announced that its first GridBank™ storage unit has been cleared for shipping and installation after completing an extensive factory acceptance testing (FAT) process at Parker Hannifin’s Energy Grid-Tie Division. Alevo and Parker Hannifin have collectively conducted a series of validation and application tests on the 2MW/1MWh unit to verify the GridBank’s performance based on safety, power, thermal stability, communications, response rates and ability to deliver specific applications.
“We have been testing the GridBank in conjunction with Alevo since August and are satisfied the unit operates as per its design intent,” explained Jim Hoelscher, General Manager of Parker Hannifin’s Energy Grid Tie Division in Charlotte. “Parker has conducted a series of robust tests as part of a jointly developed factory acceptance test program and initial results confirm the Alevo GridBank capabilities, including its high-power among other attributes. We are excited to see the field performance and proud to have played a key role in this historic milestone.”
The unit will be utilized primarily for frequency regulation and charging/discharging cycles in durations of less than an hour. GridBanks are well suited to power applications such as these due to its proprietary and patented inorganic electrolyte, Alevolyte™ — which demonstrates no degradation in its power capability after thousands of full battery cycles. Due to its long cycle life, while continuing to provide its nameplate power output, the Alevo GridBank’s projected 20-year duty cycle offers a grid asset that has the lowest total cost of ownership of any storage technology, an important economic factor to consider in application specific Levelized Cost of Storage (LCOS) calculations. LCOS is calculated as the net cost to install and maintain an energy storage system, divided by its expected life-time energy throughput.
Speaking about the system, which will be installed mid-January and commissioned later in the month, Michael S. Spiker, Director of Utilities for the City of Hagerstown, said, “The Hagerstown Light Department is proud to welcome the installation of the first Alevo GridBank. We look forward to the successful operation of this unique storage technology.”
To augment the installation of the GridBank, Alevo Analytics, the intelligence and analytics arm of Alevo Group, will provide its full suite of GridMaestro™ software and run other real-time analytics as well to verify the GridBank’s performance on the grid.
“We are excited to get our first GridBank in the field with many more to follow,” said Christopher Christiansen, President of Alevo Energy. “We can now demonstrate what makes a GridBank’s safety and performance characteristic unique in the market. With our non-flammability and full range of usable capacity, we are also capable of following PJM’s enhanced Reg D signal accurately.”
About Alevo
Alevo, a leading provider of energy storage is redefining energy as a developer, manufacturer and provider of grid-scale energy storage solutions featuring GridBank™ and Alevo Analytics. GridBank lithium-ion batteries feature a proprietary inorganic electrolyte (Alevolyte™), which is non-flammable and offers extreme long life and stability. Alevo’s vertically engineered turnkey energy storage solution can be placed anywhere on the electricity supply chain, to reduce energy waste, lower greenhouse gases and other emissions, create efficiencies and lower costs. Founded in 2009, Alevo is headquartered in Switzerland with GridBank manufacturing in the U.S. For more information, visit www.alevo.com.
About Alevo Analytics
Alevo Analytics provides advanced analytics and simulation capabilities, business intelligence and advisory services with a primary focus on the power and energy sectors as well as Analytics IQ databases and the GridMaestro™ Software Suite- real time software solutions for GridBank optimization. Alevo Analytics collaborates with customers to provide unique insights regarding where the deployment of distributed energy resources will yield the greatest benefits while demonstrating the efficiencies which can be realized across the electricity supply chain.
About Parker Hannifin Corporation
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For 100 years the company has engineered the success of its customers in a wide range of diversified industrial and aerospace markets. Learn more at www.parker.com or @parkerhannifin.