Sanmina And Primus Power Announce Manufacturing Agreement To Produce Grid-Scale Electrical Energy Storage Systems
SAN JOSE, Calif., May 12, 2014 /PRNewswire/ -- Sanmina Corporation (Nasdaq: SANM) and Primus Power today announced a manufacturing agreement focused on the growing energy storage market. Sanmina is a leading integrated manufacturing solutions company making some of the world's most complex and innovative optical, electronic and mechanical products, including complex power systems and inverters. Primus Power has developed the EnergyPod®, a safe, low cost, distributed energy storage system that bolsters the stability and security of the electric grid, while offering exceptional power density, reliability and portability. As part of the agreement, Sanmina will assemble and test EnergyPods at its Silicon Valley manufacturing facilities.
"Three imperatives guided our selection of a production partner: manufacturing innovation, strong engineering and the ability to quickly scale to volume," said Primus Power CEO Tom Stepien. "Sanmina's production experience with complex power systems is a given. For complex grid-scale energy storage technology, it's an added advantage to find a manufacturing partner with a deep understanding of our customers' technical priorities and extensive reach into the energy ecosystem. Furthermore, Sanmina's global footprint will enable us to distribute worldwide. We anticipate a long and mutually beneficial collaboration."
"Sanmina is pleased to be working with Primus Power to solve one of clean technology's most pressing problems—the cost-efficient storage of energy for smart grids," said Sundar Kamath, senior vice president of corporate technology at Sanmina. "Working with clean technology customers for more than 20 years in the design and manufacturing of power systems, batteries and inverters gives Sanmina a unique ability to help companies like Primus Power bring new technologies to market quickly and meet global demand. Sanmina's footprint of eight facilities here in Silicon Valley provides a complete solution for Primus Power."
Sanmina provides a broad range of solutions for companies in the energy markets, including solar, wind, oil and gas, fuel cell, LED lighting and battery systems. The company's eight Silicon Valley facilities provide end-to-end solutions including high technology PCB design and fabrication, enclosures, precision machining, new product introduction, system assembly and test. With three decades of experience across a wide range of industries, Sanmina works with customers to design and launch new products, reducing time to market and producing more robust designs. Products launched in one of Sanmina's gateway facilities can be built and distributed from any of Sanmina's manufacturing facilities, located in every major region worldwide.
The manufacturing agreement is a key element of Primus Power's global operations strategy. The company's first customers will start receiving EnergyPods in the coming months. They include municipal and investor-owned utilities, as well as microgrids at military bases.
Sanmina Corporation is a leading integrated manufacturing solutions provider serving the fastest-growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the communications networks, computing and storage, defense and aerospace, industrial, medical, multimedia, automotive and clean technology sectors. Sanmina has facilities strategically located in key regions throughout the world. More information regarding the company is available at www.sanmina.com.
About Primus Power
Primus Power is a leader in low-cost, grid-scale energy storage solutions with a scalable, distributed, multi-hour system that economically serves multiple storage applications. With 15 patented innovations in chemistry, cell design and system engineering, the Company's EnergyPod® products offer exceptional power density, reliability and portability at industry-low prices. Follow Primus Power on Facebook, LinkedIn and Twitter, or visit us at www.primuspower.com
Sanmina Safe Harbor Statement
The foregoing, including the discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales principal customers, the ability of Sanmina to effectively assimilate acquired businesses and achieve the anticipated benefits of its acquisitions, and competition and technological change. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors, including factors set forth in our Company's Annual and quarterly reports filed with the Securities Exchange Commission.
SOURCE Sanmina Corporation