EnerSys Introduces Solution for Large Scale Energy Storage Market
READING, Pa., Oct. 29, 2012 /PRNewswire/ -- EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, announced today that it is entering the large-scale energy storage market with its new OptiGrid Stored Energy Solutions, a new turnkey megawatt hour scale energy management system for utilities and large industrial applications.
"Our new OptiGrid Stored Energy Solutions answers a critical need in the marketplace and, as such, may provide significant growth opportunities for EnerSys," said John D. Craig, chairman and chief executive officer of EnerSys. "Industry analysts forecast that the global market for large scale energy storage over the next 10 to 20 years could be between $200-$600 billion. We believe the large scale energy storage market is poised for growth in the near and long term and could reach two to four gigawatts by 2016."
Power grid stabilization is a prime concern among today's utilities, as they balance supply and demand and cope with issues such as voltage regulation, frequency regulation, peak management and renewable power integration. In addition, power disturbances are a major cost and concern today for both utilities and industry. It is estimated that the U.S. economy is losing between $119 billion and $188 billion annually from power outages and power quality issues.
Utilities and industrial users are increasingly discovering that large energy storage systems, such as OptiGrid Stored Energy Solutions, are effective tools for power grid stabilization. According to the Electricity Storage Association, electric utilities are among the largest owners and users of electrochemical battery systems. Furthermore, Frost and Sullivan's research service predicts that electric energy storage technologies will be an inseparable part of smart grids and distributed energy generating systems in the future.
"EnerSys is uniquely positioned to meet this growing market demand," said Craig. "We have the financial resources, extensive production capabilities and proven product portfolio to provide a complete, competitive and diversified line of energy capacity optimization solutions from a reliable single source supplier."
A flexible, turnkey, utility-scale capacity optimization system, OptiGrid Stored Energy Solutions is available in the full range of battery chemistries offered by EnerSys, making it one of the most comprehensive, large-scale energy storage systems available globally.
OptiGrid Energy Storage Solutions can be customized with one or more of the proven chemistries of EnerSys®, including tubular technology, traditional flat plate valve regulated, traditional flat plate flooded, lithium ion and/or advanced lead acid designs and alloys marketed under the well-known brand names such as PowerSafe® and DataSafe® batteries.
OptiGrid Energy Storage Solutions by EnerSys is provided as a complete, packaged solution that combines the appropriate battery chemistry as well as a power conditioning system, monitoring system, shelter/container and full service and engineering to best match the customer's technical and economical requirements.
Coinciding with the launch, EnerSys is currently completing the OptiGrid Stored Energy Solutions customer showcase, located in southern Vermont. This showcase is being built to enable customers to understand the product platform as well as see the system in operation.
For more information on OptiGrid Energy Storage Solutions by EnerSys, visit http://enersys.com.
EnerSys, the world leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, chargers, power equipment, and battery accessories to customers worldwide. Motive power batteries are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including aerospace and defense systems. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world. For more information, visit www.EnerSys.com.
Caution Concerning Forward-Looking Statements
This press release and oral statements made regarding the subjects of this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but are not limited to, (i) statements regarding EnerSys' plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning; and (ii) statements about the benefits of the OptiGrid Stored Energy Solutions, including any impact on our financial and operating results and estimates, and any impact on EnerSys' market position that may be realized from the OptiGrid Stored Energy Solutions.
These forward-looking statements are based upon management's current beliefs or expectations and are inherently subject to significant business, economic, and competitive uncertainties and contingencies many of which are beyond our control. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: (1) our ability to successfully develop the market for this product ; (2) the possibility that EnerSys may not realize revenue benefits from the business within expected time frames; and (3) competition may adversely affect the business and result in customer loss. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date such forward-looking statement is made.
Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect EnerSys' results, including earnings estimates, see EnerSys' filings with the Securities and Exchange Commission, including "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations," including "Forward-Looking Statements," set forth in the Company's Quarterly Report on Form 10-Q for the period ended July 1, 2012. No undue reliance should be placed on any forward-looking statements.
In this press release, EnerSys relied on and referred to information and statistics regarding the energy storage market. EnerSys obtained this market data from independent publications or other publicly available information. Although it believes these sources are reliable, EnerSys has not independently verified and does not guarantee the accuracy and completeness of this information."
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding EnerSys' business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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