EnerVault Restructures and Seeks New Owners

Energy storage firm pursues funding to commercialize its innovative technologies

Sunnyvale, Calif. April 14, 2015


EnerVault Corporation announced today that it is seeking new owners for its redox flow battery technology, which has been successfully demonstrated in the field at megawatt-hour scale.

"In delivering this system to the field, EnerVault has assembled a world-class team, developed significant intellectual property, established strategic supplier partnerships to hit our cost targets, and put in place a path to provide reliable systems," said Ron Mosso, CEO. "The new owners will see the tremendous value that we have created over the last six years and the short path from our successful megawatt-hour demonstration to commercial revenues in the multibillion dollar utility market for energy storage."

In 2014, the company completed the commissioning and testing of the world's largest iron-chromium redox flow battery, EnerVault Turlock. As reported in the March proceedings of the International Renewable Energy Storage forum, this operating project achieved or exceeded all of its targets and demonstrated the potential of megawatt-hour scale redox flow battery technology.

New ownership of the company and its assets are expected to be completed over the next two months. Interested buyers are requested to contact Ron Mosso, CEO, at rjmosso(at)EnerVault(dot)com, or Thomas Jahn, CFO, at tjahn(at)EnerVault(dot)com

About EnerVault:
EnerVault designs and manufactures grid-scale, long duration energy storage systems based on iron-chromium redox flow battery technology pioneered by NASA. EnerVault's energy storage systems offer grid operators the flexibility to both absorb and deliver energy to cost effectively manage system efficiency, increase reliability and integrate renewable resources. Based in Silicon Valley, EnerVault is the first company to deploy megawatt-hour scale iron-chromium redox flow battery systems in field operations. For more information, visit http://www.EnerVault.com

Featured Product

Parker Wind Power Solutions - Core technologies to help you harness the wind… onshore and offshore

Parker Wind Power Solutions - Core technologies to help you harness the wind… onshore and offshore

Visit Booth #2886 at AWEA Windpower, May 22-25 in Anaheim, CA to see how Parker products, systems and services help you raise performance while reducing risk in wind energy environments. Parker has been on the forefront of windpower for over two decades, with solutions that touch virtually every critical function in the turbine. From integrated lube oil filtration systems and sealing technologies that make drive trains more reliable and bearings operate like new to compact blade pitch actuation systems that maximize rotor efficiency and minimize vibrations in the turbine. Parker has the solutions that make today's advanced and sophisticated wind power plants better and smarter. Case in point? Our high efficiency power conversion systems that deliver optimum power to the grid. While our scalable evaporative cooling system lowers overall system cost with up to 40% higher power throughput.