HAYWARD, Calif., Aug. 02, 2017 (GLOBE NEWSWIRE) -- Today Primus Power (“Primus”), a leader in stationary energy storage systems, announced a Manufacturing Services Agreement ("MSA") with Foxsemicon Integrated Technology, Inc ("Foxsemicon"). The MSA covers the assembly and testing of Primus’ EnergyPod long duration flow batteries.
The recent launch of the EnergyPod 2, increasing customer interest, and an equity investment into Primus enables access to the rapidly growing energy storage market in China. Adding Foxsemicon as a strong partner will accelerate customer shipments by reducing manufacturing lead times, particularly in China and neighboring countries. Foxsemicon’s engineering capability, global purchasing power and in-house fabrication, assembly and testing will help drive down manufacturing costs.
The agreement highlights inherent design advantages in Primus' EnergyPod. Unlike lithium ion batteries, which require large capital investments for specialized manufacturing lines, EnergyPods use common fabrication processes: welding, injection molding and assembly.
"We are excited to work with Foxsemicon as we accelerate shipments to meet strong customer demand. Their expertise meshes perfectly with our product and their skill sets complement ours," said Mark Collins, Vice President Operations of Primus. "We are impressed with Foxsemicon’s world-class supply chain management, global manufacturing capability, attention to detail, and strong intellectual property protection."
"The energy storage market is exploding, especially in China,” said Jackson Hwang, Vice President Business Development of Foxsemicon. “We look forward to using our manufacturing prowess to help Primus deliver their industry-leading battery systems to China and global customers."
About Primus Power
Primus Power is a California-headquartered provider of low-cost, long-life and long-duration energy storage systems. The Company’s flow batteries are shipping to U.S. and international commercial/industrial, data center, microgrid, utility, and military customers. With technical innovations protected by 34 patents in 9 countries/regions, the Company’s EnergyPod systems offer exceptional reliability, modularity, and energy density at an industry-leading total cost of ownership. www.primuspower.com
Foxsemicon has a global footprint and headquarters in Taiwan. Foxsemicon is the partner of choice for all aspects of contract manufacturing services in global high technology equipment industries. Armed with its proprietary CMMS business model and well-established manufacturing and quality control process, Foxsemicon is recognized by its customers with its vertical integrated manufacturing capability. Through its renowned superiorities in speed, quality, engineering services, efficiency, and value-added offered, Foxsemicon was also awarded as the best performance supplier by a top ranking worldwide semiconductor equipment OEM customer.
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