Francis J. Murray, NYSERDA president and CEO, said, “I am proud that NYSERDA is working with Ultralife to move forward with this energy storage initiative. Developing more advanced energy storage technologies like this one is essential for us to achieve substantial reductions in our greenhouse gas emissions and to increase our use of renewable energy sources. Ultralife’s work will help meet our energy needs today and create jobs in the clean energy economy for the future.”New York State Senator Mike Nozzolio (54 th Senate District) commenting on the award said, “For many years, it has been my privilege to work with Ultralife to support their efforts to develop a strong and viable business in Wayne County. As part of their advanced energy storage system development and commercialization efforts, Ultralife plans to work with some of our top universities – Rochester Institute of Technology and Rensselaer Polytechnic Institute – on mechanical design and advancement of the system electronics to enhance performance and tailor its technology to the markets identified in its commercialization plan. Ultralife also plans to partner with numerous New York businesses for use of their products and services to develop and launch this important technology. This is exactly the kind of New York-based collaborative team effort needed to promote business growth and create jobs in New York State.” Ultralife will organize and lead a collaborative team composed of partners including academic institutions, industrial and consulting businesses to develop the system. This multiphase, multiyear project will provide the resources necessary to allow Ultralife and its team members to prove that a New York manufactured energy storage and management system can cost effectively, and efficiently, store and manage power generated from any source for use at optimal peak times. About Ultralife Corporation Ultralife Corporation, which began as a battery company, serves its markets with products and services ranging from portable and standby power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe.
Ultralife’s family of brands includes: Ultralife Batteries, Stationary Power Services, RPS Power Systems, ABLE, McDowell Research, RedBlack Communications and AMTI. Ultralife’s operations are in North America, Europe and Asia. For more information, visit www.ultralifecorp.com.This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. The potential risks and uncertainties that could cause actual results to differ materially include: worsening global economic conditions, increased competitive environment and pricing pressures, and the possibility of intangible asset impairment charges that may be taken should management decide to retire one or more of the brands of acquired companies. The Company cautions investors not to place undue reliance on forward-looking statements, which reflect the Company’s analysis only as of today’s date. The Company undertakes no obligation to publicly update forward-looking statements to reflect subsequent events or circumstances. Further information on these factors and other factors that could affect Ultralife's financial results is included in Ultralife's Securities and Exchange Commission (SEC) filings, including the latest Annual Report on Form 10-K.