Date: Jan 05, 2005 Source: PR Newswire (
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VRB Power Systems Inc. (TSX-V: VRB) is pleased to announce it has entered into technology development agreements with Electrosynthesis Company Inc. ("ESC"). ESC previously acted as an in house research and development division of RWE npower PLC for the Regenesys technology.
ESC is a research and development company specializing in the development of electrochemical technologies for energy storage systems, fuel cells, electrodialysis, separations, sensors, synthesis of inorganic and organic chemicals and recycling of waste streams. ESC offers internationally recognized expertise in electrochemistry and R&D services, engineering, and the sale of electrochemical systems to provide practical solutions for clients worldwide.
"We are pleased to continue development and commercialization work on the flow battery technology. VRB Power's acquisition of the Regenesys technology will enable the Company to address a broad range of market needs providing security of supply and economic advantages to utility companies and industry, states Dr. David Genders, President of ESC.
"ESC is an exceptional organization with extensive experience in the field of electrochemistry and energy storage", states Tim Hennessy, CEO of VRB Power. "Coupled with the previously announced development agreement with Noram Engineering, VRB Power now has two world class organizations with valuable synergies that will couple to fulfill the ongoing development requirements of the Company."
About Electrosynthesis
Offering expertise in electrochemical technology, Electrosynthesis Company, Inc. began as an R&D and consulting firm in 1977. In 1992, we moved into our current custom-built laboratory facility where we have been providing electrochemical expertise to solve problems for clients worldwide. To date, our highly skilled staff has completed more than 200 different R&D projects for clients giving us a unique experience base. Website: www.electrosynthesis.com
About VRB Power
Based in Vancouver, B.C. Canada, VRB Power Systems Inc. is an electrochemical energy storage company that has commercialized the patented Vanadium Redox Battery Energy Storage System ("VRB-ESS"). The VRB-ESS is a new enabling technology that can effectively store electricity on demand. The VRB-ESS can provide direct economic benefits to utilities and end users in terms of improved power quality, reliability and energy efficiency. The VRB-ESS is particularly well suited to load levelling (peak shaving), electrical power arbitrage, grid stability enhancements, capital deferment and Remote Area Power Supply (RAPS) applications. It is primarily focused on stationary power sources such as utility substations, commercial buildings, production facilities, telecommunication operations, cellular radio sites, and renewable resource generation such as wind farms - creating the ability to provide "firm" capacity. As a "green" technology, the VRB is characterized by the lowest ecological impact of all energy storage technologies and is unlike most other conventional energy storage systems that rely on toxic substances such as lead, zinc or cadmium. VRB Power is publicly listed on the TSX Venture Exchange ("VRB") and the OTC Pinksheets ("VRBPF").
