Top Energy and Finance Companies Launch Next Generation Storage System for Utility and Grid-Scale Applications
BOSTON, Oct 07, 2015 (BUSINESS WIRE) — Executives with Boston-based, Vionx Energy have announced an ecosystem of companies to launch and commercialize a groundbreaking storage technology poised to transform how modern grids are managed and optimized. The unique relationship brings together six global companies— United Technologies Corp. (UTC), Starwood Energy Group, Siemens, 3M, VantagePoint Capital Partners and Jabil—to license, finance, manufacture and deploy the energy storage system.
The company’s unique technology, a breakthrough vanadium flow storage system, was developed and engineered by researchers at UTC and is designed to make a long-duration, long-life grid-scale battery practical, resilient and cost efficient.
“At Vionx Energy we’re dedicated to providing grid storage solutions for the long run,” said David Vieau, Vionx Energy’s President and Chief Executive Officer and former Chief Executive Officer of lithium ion battery maker A123 Systems. “Through our innovative flow battery solution incorporating technology developed by United Technologies, we are confident our technology has an important role to play in the future of grid energy storage. Our unique eco-system of companies, including UTC, Siemens, and Starwood Energy, bring us the expertise and support to make Vionx Energy a leading grid storage supplier globally.”
“With the support of an Advanced Research Projects Agency-Energy (ARPA-E*) award, UTRC has developed a differentiated flow battery that enables cost-effective and reliable energy storage solutions,” said Dr. David Parekh, vice president, Research, and director, United Technologies Research Center. “We are excited to be part of this ecosystem of companies. Along with licensing this R&D 100 award-winning technology exclusively to Vionx Energy, we will continue to provide R&D support to Vionx as they further develop and commercialize this game-changing solution.”
