Yahoo Finance 4/19/2018
OTTAWA, Ontario, April 19, 2018 /PRNewswire/ -- Lockheed Martin (LMT) signed an agreement to supply approximately 17 MWh of GridStarâ„¢ Lithium energy storage systems to Peak Power Inc., a North American energy storage services provider. The units will be installed in Ontario, Canada, and along the East Coast of the United States.
"Peak Power Inc. is an innovative company that we are excited to collaborate with to deploy our robust, reliable GridStar Lithium systems," said Frank Armijo, vice president of Lockheed Martin Energy. "These projects are an example of solutions we're providing to address complex global energy challenges."
Peak Power Inc. will use its own intelligent Synergyâ„¢ software, combined with GridStar Lithium energy storage systems, to forecast the most expensive peak demand events and shift energy consumption for its customers during these peak moments. This results in a reduced amount of peak demand on the grid and lower electricity costs for customers.
"The Lockheed Martin name is a brand that is associated with a proven track record and high-quality design and engineering," said Derek Lim Soo, CEO of Peak Power Inc. "Our software performance this past year in Ontario allowed us to hit all five coincident peak events that form the bulk of our customer's bills within a one-hour window, with 100% accuracy. We're looking forward to integrating our software with Lockheed Martin's reliable and innovative solutions to support our customer's needs and the future of our distributed grid."
Lockheed Martin has delivered and has a pipeline of energy storage solutions to address a range of applications, including reducing peak loads on the electrical grid and integrating renewable energy sources with energy storage. These projects have been installed in many locations, including Canada.
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https://finance.yahoo.com/news/lockheed-martin-deliver-17-mwh-150000180.html
