Blue Earth and PowerGenix Enter Multi-Year Joint Product Development and International Master Agent Agreements
Marketwired
HENDERSON, NV --(Marketwired - June 30, 2014) - Blue Earth, Inc. (BBLU) a renewable energy and energy efficiency services company, announced today that it has entered into an International Master Agent Agreement with PowerGenix, the leading developer of high performance Nickel-Zinc ("NiZn") batteries. The multi-year joint product development and international master agent agreements will adapt Blue Earth's proprietary, intelligent traffic uninterruptable power supply ("UPS") systems for use in, worldwide multiple market verticals, including digital data storage and server operations, grid storage, critical transportation operations, city infrastructure and emergency UPS markets.
PowerGenix's patented NiZn battery technology is inherently a high power, high rate capable chemistry that is also ideally suited for grid applications such as frequency and voltage modulation, peak shaving, and Transportation & Distribution (T&D) deferral. The batteries use an inflammable aqueous electrolyte, making them extremely safe and abuse tolerant across a wide temperature range.
PowerGenix, headquartered in San Diego, California also has a technology development and product engineering facility in Shenzhen, China that oversees its supply chain and raw material quality control, and provides direct support to its Asian customers. PowerGenix NiZn batteries have been certified by China National Labs and PowerGenix is working with several major automotive OEMs and Tier1 suppliers worldwide on the Stop-Start and Micro-Hybrid markets, including Peugeot and Hella.
"Blue Earth's UPStealth™ intelligent systems and PowerGenix's advanced Nickel Zinc energy storage systems are complementary technologies driving common marketing initiatives. We have the unique opportunity to combine the technology, development, manufacturing and marketing capabilities of both corporations into breakthrough life-enhancing worldwide solutions," commented Robert Kanode, CEO of PowerGenix. "PowerGenix is delighted to join the Blue Earth team!"
The global stationary markets, including traffic UPS and grid storage, are multi-billion dollar market segments. New analysis from Frost & Sullivan predicts that revenue of $1.61 billion in 2013 will reach $2.34 billion in 2019 as a result of the demand for well-equipped data centers with fully functioning backup power.
"The trend towards virtualization and cloud computing, as well as the need for data availability on the go, is boosting the number of UPS installations," said Frost & Sullivan Energy & Environmental Research Analyst Anu Elizabeth Cherian. "Organizations are veering towards a new generation of UPS systems that complement the virtual server design and significantly raise the total power usage effectiveness of data centers."
The insatiable demand for data centers and compute cycles is on a strong, upward trajectory according to a Pike Research report exploring global green data center trends. Today's data center industry is estimated to consume approximately 1.5%of the world's energy. The net result is that the industry is undergoing a sea change as it struggles to keep energy demand in check while concurrently growing. The change is driven by a diverse yet highly integrated set of factors: the prices of electricity and real estate, greenhouse gas emissions, information technology improvements, an unending increase in storage requirements, cloud computing, virtualization, electronic-based business models, large steps in cooling techniques, and significant improvements in monitoring and management tool suites. Blue Earth and PowerGenix believe they are well positioned to capitalize on their existing battery technology to penetrate these market opportunities.
The global growth of Intelligent Data Centers ("IDC") and their use of lead-acid based battery backup systems has been challenging due to historical issues with short-life, corrosiveness, high maintenance, replacement costs, size and weight, as well as limited operating temperatures. Besides the incumbent lead-acid batteries occupying rooms or floors of space, IDCs also struggle with the constant inconvenience and safety of battery replacement and the cost of operations in order to provide reliable battery backups.
A new IDC use model needs an advanced system that can provide battery backup for just a few minutes during loss of utility power, which will provide the IDC sufficient time to transfer services to a redundant server, located at an off-site location somewhere else in the world. This new use model creates the need for a battery backup system that is smaller in size, can fit in unused rack space, is lighter in weight, has intelligence with remote diagnostics, requires little to zero maintenance, carries ease of installation, provides longer life, is environmentally friendly, and is designed around quick recharge and discharge. The NiZn based battery backup system to be manufactured and marketed through the Blue Earth/PowerGenix partnership is intended to meet all of these criteria.
"The depth and breadth of the relationship between Blue Earth and PowerGenix is remarkable and rare in the battery industry. Our unique relationship provides global consumers of battery backup systems the confidence and convenience of knowing they are working with an experienced team that is focused on manufacturing and delivering state-of-the-art UPS solutions that remove their current pain, frustrations and challenges," said Tim Hysell, Corp. Sr VP of the Blue Earth Technology and Programs division. "Our first proof statement, the UPStealth™, is already commercially viable and speaks volumes to anyone seeing the product for the first time."
About PowerGenix PowerGenix is the leading developer of high-performance, low-cost Nickel-Zinc batteries for automotive, industrial and stationary storage applications. PowerGenix Nickel-Zinc batteries are a superior alternative to lead-acid and other advanced chemistries, offering lower weight, higher energy density and improved recyclability, which leads to lower costs over their entire service life. For more information, please visit http://www.powergenix.com.
About BBLU BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com.
Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
