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Ultralife Corporation Awarded $2.4 Million By NYSERDA For Advanced Energy Storage System

Ultralife Corporation (NASDAQ: ULBI) has been awarded approximately $2.4 million by The New York State Energy Research and Development Authority (NYSERDA) for the design, development, prototyping, scale-up and installation of a 1 megawatt -hour lithium ion energy storage system on Ultralife’s Newark, New York corporate campus. The system will integrate lithium ion batteries, ultracapacitors and renewable-energy generation sources, including wind and solar. Integrated with the Smart Grid, the Ultralife system will intelligently manage energy for consumption or storage.

Ultralife’s system will initially integrate two distinct power storage technologies, including a battery and ultracapacitor, on a distributed “off-grid” level, and then expand the system’s capability for on-grid integration. The system will allow both grid operators and renewable energy generators to optimize energy management through an advanced computerized monitoring and control system, which will enable these customers to control the storage and flow of power generated. The energy, environmental and economic benefits to New York State include a New York manufactured product, which will facilitate the creation of additional distributed renewable energy capability.

Ultralife received the award from NYSERDA to support the work of the New York Battery and Energy Storage Consortium (NY-BEST), an industry-focused coalition working to facilitate and enhance development and accelerate commercialization of energy storage technologies in New York State.

A significant amount of renewable power, particularly wind power, which is already being generated in New York, is wasted due to lack of storage options, and the inability to distribute this power during peak demands. In addition, the inability to store and control wind and solar generated power by utilities has discouraged development of utility-scale renewable facilities in grid congested areas of New York State.

“We are extremely pleased to receive this award, and would like to express our appreciation to NYSERDA and NY-BEST for their support and recognition of the potential value of the innovative energy storage system that we are developing,” said John D. Kavazanjian, Ultralife’s president and chief executive officer. “We are looking forward to finalizing the project details with NYSERDA in the near future such that we can soon initiate activities under this important industry-led partnership. This project will further advance our strategy of introducing lithium ion energy storage systems and services, integrating energy monitoring, management technologies and services, linking lithium ion batteries to more renewable energy solutions for grid efficiency and deploying solar power solutions for remote, portable and stationary power applications.”

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