PacifiCorp to Install Vanadium Energy Storage System
VANCOUVER, British Columbia --Jan. 30, 2002-- Vanteck(VRB) Technology Corp. (FRANKFURT:VNK) (CDNX:VRB) is pleased to announce that it has entered into an agreement to supply PacifiCorp with a 250 kW - 2000 kWh (8 hour) Vanadium Energy Storage System ("VESS"). The VESS unit, which will be modular and relocatable in design, will be used by PacifiCorp to supply peak power capacity (charging in the off-peak hours) and provide end of line voltage support (supplying up to 250 kVAR of reactive power) in a remote area in southeastern Utah. Installation and commissioning of the VESS unit is scheduled to be completed by June 30, 2002. The stored energy and voltage support available through this VESS unit lets PacifiCorp maintain reliable electric service in the area while deferring the need to build a new substation. Because the unit is portable, it can be moved to another location as needed in the future. The PacifiCorp 250 kW - 2000 kWh VESS unit is the first large-scale commercial user-based application of VESS technology in North America.
Vanteck is an energy technology company that is commercializing the Vanadium redox energy storage technology based on the patented redox flow regenerative fuel cell which converts chemical energy into electrical energy. VESS is now emerging as a strong energy storage technology for distributed power architectures. "Vanteck is delighted to initiate the introduction of the Vanadium redox energy storage technology in North America with PacifiCorp," said Rodney Duncan President & CEO of Vanteck. "Cost-effective large scale reliable energy storage is becoming critical for highly reliable AC and DC power supply, particularly at the distributed end of the market. There is a growing demand for uninterrupted backup power for ride through, peak-shaving, uninterruptible power (UPS) and quality power which the Vanadium redox energy storage technology addresses."
PacifiCorp, a subsidiary of United Kingdom utility Scottish Power (NYSE:SPI), provides electric service to approximately 1.5 million customers in Utah, Wyoming, Oregon, Washington, Idaho and California. With a service area of more than 135,000 square miles, PacifiCorp has one of the most extensive transmission systems in the U.S. PacifiCorp, with approximately $4 billion in sales, is one of the lowest-cost electricity providers in the U.S. and generates about 8,000 megawatts from coal, hydro, gas-fired combustion turbines, geothermal and renewable wind power.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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