CellCube Energy Storage Systems Inc. ("CellCube" or the "Company") (CSE: CUBE) (OTCQB: CECBF) (Frankfurt: 01X) (WKN: A2JMGP) is very pleased to announce it has signed an agreement with a US based energy asset development company in the energy storage space to develop up to 100 Megawatt ("MW") of energy storage systems for deployment throughout the United States. The market CellCube is entering- enables offtake agreement resources for independent system operators ("ISO") and regional transmission operators ("RTO") through product and service deliveries into scheduled projects and will be deployed over a period of the next 24-36 month.
"The Company is signaling a long awaited milestone for deployments of energy storage systems in new capacity driven market applications based on the vanadium redox flow technology," stated Stefan Schauss, President of CellCube. "CellCube is moving into focus for grid capacity applications and these projects position the company to become a reliable partner in energy storage as grid capacity."
The Company will develop projects to deploy CellCube energy storage systems in several grid ancillary and combined capacity oriented, in-front-of- as well as behind-the-meter deployments. The energy storage systems will be placed as stand alone plants or collocated with solar to offer power market traded energy supply and ancillary services products.
ISO and RTO Markets
ISO (Independent System Operator) markets are energy or power markets where ISOs foster competition from electricity generators through opening transmission grid access for market participants (buyers and sellers) and typically operate the transmission grid system for the transport of electricity to consumers of energy. RTOs are similar in nature where regional system operators are pooling their infrastructure and develop innovative procedures to manage transmission of electricity effectively. The ISOs and RTOs use bid-based markets to determine economic dispatch for approximately two-thirds of the nation's electricity load which is served in RTO regions.
More information for ISO/RTO can be found at FERC's website https://http://www.ferc.gov/market-oversight/mkt-electric/overview.asp
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