CellCube Energy Storage Systems Inc. ("CellCube" or the "Company") (CSE: CUBE) (OTCQB: CECBF) (Frankfurt: 01X) (WKN: A2JMGP) is very pleased to announce it has signed an agreement with a US based energy asset development company in the energy storage space to develop up to 100 Megawatt ("MW") of energy storage systems for deployment throughout the United States.
The market CellCube is entering- enables offtake agreement resources for independent system operators (“ISO”) and regional transmission operators (“RTO”) through product and service deliveries into scheduled projects and will be deployed over a period of the next 24-36 month.
“The Company is signaling a long awaited milestone for deployments of energy storage systems in new capacity driven market applications based on the vanadium redox flow technology,” stated Stefan Schauss, President of CellCube. “CellCube is moving into focus for grid capacity applications and these projects position the company to become a reliable partner in energy storage as grid capacity.”
The Company will develop projects to deploy CellCube energy storage systems in several grid ancillary and combined capacity oriented, in-front-of- as well as behind-the-meter deployments. The energy storage systems will be placed as stand alone plants or collocated with solar to offer power market traded energy supply and ancillary services products.
Source: Company Press Release