SCHENECTADY, N.Y.
and AUSTIN, Texas,
Sept. 10, 2012 /PRNewswire/ -- GE
Energy Storage, a unit of GE Transportation (NYSE: GE) and Xtreme
Power, a privately held Austin,
Texas company have formalized a strategic alliance to work
together to provide cutting-edge energy storage solutions.
The alliance combines GE's Durathon* battery technology for grid
energy storage systems and Xtreme Power's extensive experience as
an integrated energy storage turn-key solutions provider. The new
GE Durathon battery products, which can last up to ten times longer
than conventional lead acid batteries and store more energy in half
the space, are the result of a $100
million initial investment in battery technology developed
at GE's Global Research Center in Niskayuna, NY. GE's Durathon battery
technology, when paired with Xtreme Power's Xtreme Active Control
Technology** (XACT), should enable safer and highly efficient
storage of massive quantities of electricity at low cost for grid
applications. XACT is an innovative proprietary control system
architecture that offers sophisticated control algorithms, real
time response, remote monitoring, and optimized power management.
Together, GE and Xtreme Power expect to tap a global segment
looking for effective and efficient energy storage on the electric
grids of the world, both old and new.
"Teaming up with Xtreme Power provides customers in the
energy space access to turn-key solutions based on breakthrough
Durathon battery technology," said Prescott
Logan, General Manager of GE Energy Storage. "Our combined
team's proven experience in integrating energy storage technologies
with power conversion systems and the grid, as well as installing
and operating multi-megawatt energy storage systems will bring real
life-cycle value to our customers."
"We're honored to be working with GE Energy Storage, and
confident that together we'll help deliver tomorrow's energy
technology to the world's markets today," said Alan Gotcher, President & CEO of Xtreme
Power. "GE's world-famous technology, matched with Xtreme Power's
XACT control platform and systems integration expertise, is a win
for everyone concerned about efficient, cost effective energy
storage."
About GE
GE (NYSE: GE) works on things that matter. The best people
and the best technologies taking on the toughest challenges.
Finding solutions in energy, health and home, transportation and
finance. Building, powering, moving and curing the world. Not just
imagining. Doing. GE works. For more information, visit the
company's website at www.ge.com.
About GE Energy Storage
GE Energy Storage, a unit of GE Transportation, works to
enable safer, efficient and cost effective storage, distribution
and utilization of energy where it's needed and when it's needed.
As a global technology leader and supplier of advanced battery
energy storage systems, we provide Durathon battery modules and
complete energy storage solutions to the Telecom, UPS, Energy
Management, Power Generation, Grid Operation, and Motive power
industries. GE Energy Storage is headquartered in Schenectady, New York, USA. For more
information visit the company's website at
http://www.geenergystorage.com.
About Xtreme Power
Xtreme Power provides scalable, real-time power management
and energy storage solutions that enable a more sustainable,
reliable and cost-effective electric grid. Xtreme Power's Dynamic
Power Resource® combines customized real time controls and
intelligent power electronics with efficient energy storage
technology engineered specifically to the needs of its customers.
Xtreme Power enables multiple participants and technologies to
simultaneously operate on the electric grid providing new
flexibility that has never before been possible. Xtreme Power is a
US company backed by investors SAIL Capital Partners, Bessemer
Venture Partners, The Dow Chemical Company, Fluor Corp., BP
Alternative Energy, Dominion Resources, POSCO ICT, SkyLake &
Co. and Spring Ventures, LLC. A 2012 Bloomberg New Energy Pioneer,
Xtreme Power earned the 15th spot on Inc. Magazine's 500|5000 list
of the fast growing private companies in the U.S. in 2012 – the
company's second year in a row making the list.
For more information, please visit
http://www.xtremepower.com.
*Durathon is a trademark of the General Electric
Company
** Xtreme Active Control Technology and XACT are
trademarks of Xtreme Power
SOURCE Xtreme Power