OVERLAND PARK, Kan., Dec. 2, 2014 (GLOBE NEWSWIRE) -- Black & Veatch and Dynapower Company have signed an agreement to create a strategic alliance to address the growing need for grid-scale energy storage systems. Through the alliance the companies will work together to address both transmission- and distribution-level energy storage projects, both in North America and internationally. The partnership will develop and deploy storage solutions of all sizes and technologies.
Dynapower's industry-leading inverter technology will be combined with Black & Veatch's engineering and construction expertise, enabling clients to implement customized solutions that are engineered to support a range of storage technologies.
There is an estimated $10 billion energy storage market in North America by 2022, according to Black & Veatch. This growth is driven by several factors, including grid stability, state-level storage mandates, and an increased level of renewable energy sources.
"There continues to be an increasing amount of renewable energy being deployed on the grid," said Dean Oskvig, President and CEO of Black & Veatch's energy business. "These resources often require the support of energy storage to reduce supply variability and improve grid stability."
The 2014 Strategic Directions: U.S. Electric Industry report from Black & Veatch shows that nearly two-thirds of industry respondents view energy storage as the most important technology for facilitating the integration of variable energy sources.
"As today's technology improves in cost and performance and establishes its place as a mainstream grid solution, energy storage will play a key role in ensuring that electricity grids become cleaner, more reliable, responsive and cost-effective," said Adam Knudsen, Dynapower President and COO.
For more information about energy storage, please click the following link: http://bv.com/docs/default-source/energy-brochures/energy-storage
Editor's Notes:
- Black & Veatch has developed SmartES, a comprehensive modeling platform to optimize energy storage integration.
- Black & Veatch has experience supporting energy storage projects using battery, compressed air energy storage, flywheel, and pumped storage hydro technologies.
- Dynapower has over 200 megawatts of inverters installed in energy storage applications worldwide.
- The alliance combines renewable energy and power delivery expertise with a full line of industry-leading, ultrafast, bi-directional energy storage inverters.
About Black & Veatch
Black & Veatch is an employee-owned, global leader in building critical human infrastructure in Energy, Water, Telecommunications and Government Services. Since 1915, we have helped our clients improve the lives of people in over 100 countries through consulting, engineering, construction, operations and program management. Our revenues in 2013 were US$3.6 billion. Follow us on www.bv.com and in social media.
About Dynapower Company LLC
Dynapower, based in South Burlington, VT is a global leader in the design and manufacture of standard and custom power conversion equipment including high power rectifiers, bi-directional inverters, control systems and transformers for use in energy storage, industrial, mining, military and research applications. With more than 50 years of providing power electronic solutions to a global customer base, Dynapower's product range includes discrete power electronics and fully integrated systems ranging from 10 kilowatts to 50 megawatts. For more information, please visit www.dynapower.com.