ViZn Energy Systems Launches ZAC Energy Storage Platform in Collaboration with Princeton Power, Financing Available Through LFC Capital
ViZn receives multiple customer agreements for ZAC platform, a turnkey integrated AC flow battery system designed for commercial & industrial customers
AUSTIN, Texas, 9 July 2015- ViZn Energy Systems Inc. (ViZn), a leading provider of safe energy storage systems for commercial & industrial, microgrid and utility applications, today announced a collaboration with Princeton Power, a designer and manufacturer of power system products, to launch ViZn's ZAC energy storage system. ViZn has designed the system to further benefit commercial & industrial (C&I) customers and solar PV integrators. Deliveries of initial customer units are scheduled for Q4 of 2015.
The ZAC energy storage system simplifies installation, reduces procurement challenges and provides quick payback. The new system integrates ViZn's Z20 zinc-iron redox flow battery with Princeton Power System's field-proven inverters, grid connects and auxiliary components into a single-unit system. The ZAC is available in several sizes with optimized inverter and controls ranging from 320 kWh to 960 kWh and includes a simple AC connection for meter or utility interconnection. ViZn will spearhead the sales and marketing of the new system.
Financing through our partner, LFC Capital, Inc., is available for all ViZn solar+storage installations, including installations using the ZAC platform, up to USD $5 million per project. The LFC Solar Ownership Program uses a traditional lease with innovative purchase options to provide end-user customers with greater overall value than a PPA cost reduction program. In addition to electric savings continuing well beyond the seven-year lease term, the monetized value of LFC's tax benefits are shared with customers and any available cash incentives such as SRECs, FIT or PBI are paid in full to customers.
"The launch of this system is a big step forward for ViZn," said Ron Van Dell, President and CEO of ViZn Energy Systems. "We offer a complete pre-engineered solution which provides optimal component matching and assembly features designed to enable easy adoption by simplifying procurement, installation and deployment."
"ViZn's battery is a unique storage product because it utilizes a safe chemistry and is making energy storage viable on a large scale," said Ken McCauley, CEO of Princeton Power. "By integrating their battery with our power control and management system, we are accelerating the deployment of energy storage. The energy storage market represents enormous potential and with this integrated, turnkey solution from ViZn and Princeton, is well positioned to fulfill this growing demand."
"Beneficial is proud to participate in the initial installations of the ZAC platform," said Corey Wolff, CEO of Beneficial Energy Solutions. "As a leading solutions provider, we have extensive experience designing and installing turnkey energy projects. With the simplicity and safety features of this system, we see it addressing an important market need and are excited to add it to our portfolio of offerings."
"UGE sees a strong need for a plug-and-play energy storage solution in the C&I space, especially with international solar customers. The need for a safe and robust storage technology along with best-in-class DC block hardware make the ZAC platform a very compelling product," commented Joshua Rogol, Vice President, Business Development at UGE. "As a full-service developer and EPC we have a keen eye toward quality and reliability which is why we chose the ZAC system."
The management teams of ViZn Energy Systems and Princeton Power Systems will be on hand to discuss the new ZAC platform at Intersolar North America in San Francisco for the product launch on July 15 at 3:30pm at the Princeton booth #8025.
ViZn's redox flow battery offers one of the fastest charge and discharge responses on the market and can withstand significant temperature fluctuations at unlimited cycles per day and full access to the state of charge. It is the most cost-effective flow battery system on the market today.
About ViZn Energy Systems, Inc.
ViZn Energy Systems, Inc. is comprised of a visionary team of scientists, engineers and business leaders that are passionate about creating and commercializing a revolutionary energy storage solution for the micro grid, commercial and industrial and utility-scale markets. Founded in 2009 and based on eight previous years of research, ViZn is commercializing energy storage systems for mega-watt applications. The ViZn solution is safe, reliable, cost effective, and scalable to meet the needs of today's ever changing energy landscape. For more information, visit: www.ViZnEnergy.com
About Princeton Power Systems
Princeton Power Systems, based in New Jersey and founded in 2001, designs and manufactures state-of-the-art technology solutions for energy management, microgrid operations, and electric vehicle charging. The company is a global leader working with customers and partners across North America, Europe, Africa and the Caribbean. It manufactures UL- and CE-certified power electronics that are used in advanced battery operations and alternative energy, with built-in smart functions for ancillary services. The company solves power issues to allow continued growth of distributed renewable energy by providing energy storage solutions that are proven to work, even in harsh environments. Princeton Power Systems builds integrated systems and designs, commissions and operates microgrids for leading organizations including Fortune 500 automakers and industrial companies. It also works with nonprofit organizations. The company proudly manufactures its products in the USA. More information about Princeton Power Systems is available at www.princetonpower.com