FlexGen Selected by Vitol Subsidiary VC Renewables to Deploy 2GWh of Energy Storage

News provided by

Aug 29, 2024, 09:00 ET

Companies Announce Landmark Material Supply Agreement (MSA) for Massive BESS Capacity

DURHAM, N.C., Aug. 29, 2024 /PRNewswire/ -- FlexGen, a leading provider of advanced energy storage solutions and software technology, and VC Renewables, Vitol's solar and storage development platform, have completed a landmark 2GWh Material Supply Agreement (MSA). VC Renewables is backed by Vitol, the world's largest independent energy trader with a global energy storage pipeline of more than 10GW. The agreement marks a significant step towards enhancing grid resiliency and reliability through innovative energy storage solutions.

"In today's dynamic energy landscape, ensuring grid resiliency is paramount. By partnering with FlexGen, a bankable service provider known for its expertise in energy storage, we are confident in our ability to deliver robust solutions that fortify grid infrastructure against disruptions," said R. Andrew de Pass, Head of Renewable and Sustainable Investment at Vitol., Inc. "This partnership demonstrates our shared commitment to delivering cutting-edge technology and comprehensive engineering support, ensuring the seamless integration and sustained performance of energy storage solutions in diverse grid environments."

"Vitol and VC Renewables bring unmatched expertise to navigating the nuanced engineering challenges of grid resiliency projects, setting them apart in an industry where precision and sophistication are critical to maximizing system availability," said Kelcy Pegler, CEO of FlexGen. "Their collaborative approach, coupled with FlexGen's HybridOS Software Platform and lifecycle services, will ensure industry-leading performance for the life of the system, advancing the energy transition through grid resiliency."

The collaboration underscores the critical importance of leveraging cutting-edge technologies to address the evolving challenges of grid resiliency. This latest agreement builds on the company's partnership; Vitol was an anchor investor in FlexGen's $100 Million Series C round. FlexGen and VC Renewables are revolutionizing the energy landscape by leveraging their combined expertise to deploy innovative energy storage solutions that enhance grid resiliency and reliability. The latest strategic collaboration reaffirms the companies' dedication to driving sustainable energy transformation and delivering tangible benefits to communities worldwide.

About FlexGen Power Systems, Inc.
Based in Durham, N.C., FlexGen is a leading integration services and software technology provider for energy storage solutions in the United States and globally. FlexGen designs and integrates storage solutions and the software platform that is enabling today's energy transition. Leveraging its best-in-class energy management software and power electronics, FlexGen delivers utility-scale storage projects integrated with traditional and renewable power generation globally. Our clients and partners include the most technically and commercially demanding developers, utilities, electric cooperatives, government agencies and industrial companies in the world. To learn more, please visit www.flexgen.com.

About VC Renewables
VC Renewables is a subsidiary of Vitol, the world's largest energy trading company. VC Renewables focuses on developing and deploying renewable energy solutions that drive sustainable growth and address the challenges of climate change. Through strategic partnerships and innovative initiatives, VC Renewables is dedicated to advancing the transition to a clean energy future. https://vcrenewables.com

SOURCE FlexGen