Ice Energy, a provider of smart grid-enabled energy storage systems to the electric utility industry, has signed a contract manufacturing partnership agreement with Mercury Corporation of Hammondsport, New York, to expand the company’s manufacturing capacity to meet growing backlog for its Ice Bear energy storage systems.
According to Ice Energy, the contract manufacturing partnership with Mercury enables the company to swiftly and efficiently ramp production capacity to immediately deliver 100s of megawatts of energy storage to utilities, reduce manufacturing costs, and maintain high quality standards.
The initiative also delivers on the commitment of a Federal American Recovery and Reinvestment Act of 2009 (ARRA) economic stimulus grant awarded to Ice Energy earlier this year in the form of Advanced Energy Manufacturing Tax Credits, bringing important new clean energy manufacturing jobs to upstate New York.
Awarded to 183 companies as part of the initial round of funding, the Advanced Energy Manufacturing Tax Credit (48C) provides a 30% credit to domestic companies for investments in new, expanded, or re-equipped clean energy manufacturing projects. It’s estimated that ARRA 48C credits will create as many as 17,000 new jobs, plus an additional 41,000 jobs through matching private investment.
John McGee, chief operating officer of Ice Energy,said: “The agreement between Mercury and Ice Energy is tangible proof that sound policy and investment in a clean energy economy can both create skilled jobs and spur growth in the private sector.
“As our engagements with our utility customers have moved rapidly to large scale system deployments, it was critical that we extend our manufacturing capabilities to meet demand with a partner that shared our values, vision and commitment to quality. We found that in Mercury.”