Parker's energy transfer systems will connect energy from Alevo's battery modules as part of large-scale 200 Megawatt energy transfer operation
CLEVELAND, June 18, 2015 - Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, announced today that it has been selected by Alevo Group, the Energy Service Provider, for the supply of systems to transfer energy from Alevo's GridBank(TM) battery modules to the utility grid. The announcement follows Alevo's agreement with Customized Energy Solutions (CES) in January to provide 200 MW of energy storage to the wholesale energy market in the largest deployment of energy transmission in North America.
The collaboration underscores the value of Parker's breakthrough power-conversion technology for battery energy storage. Parker's Global Energy Grid Tie Division will initially supply power conversion systems, battery container control, and thermal management systems to several key independent systems operators in the United States and Canada. The energy storage systems will enable the operators to substantially reduce emissions and increase efficiencies in their electricity distribution networks.
"Parker is committed to investing in technologies that will have a long term impact on society and everyday life," said Jim Hoelscher, general manager of the Parker Energy Grid Tie Division. "This project is just one example of how we're delivering solutions in the energy sector. Our power conversion technology and global experience in battery energy storage, combined with Alevo's battery technology, promise to create an unrivalled performance alliance that helps reduce emissions while creating significant energy efficiencies."
Battery energy storage, in particular, serves to regulate and stabilize the grid, requiring no fuel and producing no carbon emissions. Parker's systems enable providers to maximize their generating efficiency and provide stable and reliable power to end users. Parker first began manufacturing power conversion systems for battery energy storage in 2008 and has deployed over 150 megawatts of nominally rated systems worldwide.
"It was important that Alevo selected a partner with the expertise and capability to deliver a high end energy transfer solution to meet the large scale and demand for our forthcoming 200MW grid deployment" said Jostein Eikeland, Founder and CEO of Alevo. "Parker was the obvious choice based on its proven success in the energy conversion sector and will optimize the performance of our GridBank energy storage technology."
About Parker Hannifin
With annual sales exceeding $13 billion in fiscal year 2014, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company employs approximately 57,500 people in 50 countries around the world. For more information, visit the company's website at www.parker.com.
Alevo is a leading provider of energy storage systems designed to deliver grid-scale electricity on demand. Its innovative battery technology and GridBanks(TM) enable new source-agnostic architecture for electrical grids that reduce waste, greenhouse gases and other emissions, create efficiencies and lower costs for the world's energy producers. Founded in 2009, Alevo Group is headquartered in Martigny, Switzerland with manufacturing in Concord, North Carolina. For more information, visit www.alevo.com.