Powin Energy Announces 20-year Lithium-Ion Energy Storage System

TUALATIN, Ore., April 14, 2020 /PRNewswire/ -- Powin Energy Corporation (Powin) has unveiled three new products, Stack™225, Stack™230 and Stack™230P, its first products utilizing Contemporary Amperex Technology Co. Limited (CATL) battery cells. All three products were designed by Powin around CATL's large form factor cells, utilizing Powin's patented StackOS battery management and controls software. Powin's proprietary Stack™ products can perform a wide variety of in front of the meter, behind the meter, and microgrid applications to meet today's evolving energy storage needs, yet they are designed to be flexible so that as priorities shift, the battery applications can be adapted to meet the needs of future use cases. 

Already in mass production, Powin's Stack™225 product is used for 2-hour duration systems and offers a 10-year, one-full-cycle-per-day performance guarantee. The Stack™230P is a product designed for shorter duration applications such as frequency regulation and other ancillary services. The Stack™230 is Powin's first product released to the market providing a 20-year, one-full-cycle-per-day performance guarantee. Stack™230 was specifically designed for PV + storage applications, which typically require 3+ hour system durations and can greatly benefit from a 20-year warranted life span, aligning with the typical life cycle of PV modules. The Stack™230 performance guarantee allows the customer to use the batteries installed day 1 to be used for 20 years without any replacement. 

"We are excited to formally announce the expansion of our product line to include three new CATL based offerings. By joining CATL's reputation for quality and consistency with Powin's utility scale ESS platform we are delivering systems that meet our customer's needs for performance, reliability and bankability.  With its 20-year performance guaranty the Stack™230 in particular presents an exciting new and affordable option for utilities and IPPs looking to pair storage with new or existing solar projects.  We aim to accelerate the modernization of the electric grid by increasing the value of renewable generation assets with long-duration, affordable and high-quality energy storage systems.  With its unprecedented reputation and product quality, CATL is the perfect partner in the furtherance of our mission," said Geoff Brown, President of Powin Energy.  

With Tier 1 customers such as BMW, Daimler Benz, Volkswagen and Nissan, CATL is the leading battery cell vendor in the world by gigawatt-hours (GWh) per year delivered. CATL has achieved global deployment and is devoted to driving new energy innovation throughout the world. 

Powin is delivering on contracted orders totaling over 600 megawatt-hours (MWh) for the Stack225, Stack230 and Stack230P products for delivery in 2020 and 2021. 

Headquartered in Greater Portland, Oregon, Powin provides the large-scale energy storage systems that are essential for utilities, IPPs and project developers as they develop the highly flexible and reliable grid of the future. Powin's business model, which spans from battery cell manufacturing through operation, allows the company to control the full integration of its systems, closely manage assembly costs, control quality, and have certainty around supply chain. To date, Powin has installed or delivered over 250 MWh of battery storage projects, and coupled with its contracted sales pipeline, will exceed 1 GWh by 2021.   

About Powin:  

Powin is a global leader in cost-effective, safe and scalable battery energy storage systems. The Powin Stack™ battery energy storage system is purpose-built for the demands of utility-scale, commercial and industrial, and microgrid applications. Powin's Stack hardware also features a modular architecture and streamlined installation process allowing for efficient scaling from MWhs to GWh scale. Behind Powin's industry-leading products is an unrivaled team of experts from across the energy industry, almost three decades of supply chain management expertise and extensive battery management software development proficiency. For more information, please visit http://www.powinenergy.com/. 

About CATL: 
Contemporary Amperex Technology Co., Limited ("CATL") is a global leader in the development and manufacturing of lithium-ion power and energy storage batteries, with businesses covering R&D, manufacturing and sales in battery systems for new energy vehicles and energy storage systems. In 2018, the company's sales reached a world leading 21.31 GWh worldwide (according to data from SNE Research). For more information, please visit: http://www.catlbattery.com.  

SOURCE Powin Energy

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