Power Tree Corp Commences Construction of 4th Generation Commercial Electrical Energy Storage Device

Mon Jul 13, 2009 3:32pm EDT
 
[-] Text [+]
ORLANDO, Fla.--(Business Wire)--
Power Tree Corp today announced a major step towards important advancements in
its smart gridenergy storage technology, with the commencement of construction
of its 4th generation electricity storage device. The Company`s new device is
designed to cost effectively and efficiently store up to 30 gigawatts of
electricity and discharge continuous megawatt power for hours. 

Power Tree`s 4th generation flywheel based device is expected to be completed
for commercial use in December 2009 and follows completion and successful
independent testing of earlier versions which support the viability of Power
Tree`s proprietary core design features. 

"Power Tree`s next generation system is designed to deliver grid scale
electricity storage in a manner more efficient, cost effective and
environmentally friendly than any other technology currently available. Power
Tree`s breakthrough smart grid technology represents an important part of the
solution to the energy challenges facing our country. As President Obama has
made clear, updating our grid infrastructure and finding ways to drive green
efficiencies is a critically important national initiative and Power Tree`s
mission is to be a leader in this endeavor," said Greg Stuart, Chief Executive
Officer of Power Tree. 

Power Tree`s energy storage system has widespread applications. Commercial
customers can utilize the economic arbitrage of peak and off-peak pricing to
dramatically reduce electric bills, resulting in bottom line savings. Utilities
also can implement Power Tree`s technology by strategically placing the devices
throughout the generation and transmission system, preventing brown outs and
black outs during peak demand periods when the grid is most vulnerable. By
utilizing Power Tree`s technology, utilities can create a more elastic grid and
dramatically reduce new infrastructure costs for electricity generation plants
that are planned over the next several decades to keep up with increasing
demand. 

Power Tree`s system also empowers intermittent renewable sources such wind and
solar that are currently inhibited by the lack of adequate storage technologies.
The ability to store wind and solar power and discharge that power as needed
would help enable the successful implementation of President Obama`s smart grid
initiatives which call for an increase of power generated by renewables
(www.recovery.gov). Power Tree`s technology, being a mechanical device, does not
contain chemicals such as battery systems and provides clean, stable electricity
that produces no toxic emissions into the environment. 

Mr. Stuart concluded, "According to a 2009 report by the American Society of
Civil Engineers, $2 trillion will need to be invested in our electric
infrastructure by 2030. Power Tree`s technology was specifically developed to
address the modern challenges facing our nation`s electricity grid. The
commencement of construction of our next generation device is an important step
in the history of our company and we look forward to completing and installing
our technology in a commercial setting by the end of the year." 

ABOUT POWER TREE CORP

Power Tree Corp is a private company that is focused on the research and
development of grid scale electrical energy storage. Our technology is designed
to lower electricity costs, provide elasticity to an outdated grid system and
reduce pollutants resulting from energy generation plants and chemical
batteries. Our next generation device to be completed in December 2009 has
widespread applications for commercial customers, utilities and renewable energy
resources such as wind and solar. For more information on our company, please
visit our website at www.powertreecorp.com. 

Safe Harbor Statement 

This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on current expectations or beliefs, including, but not
limited to, statements concerning the company's operations, financial
performance and condition. The company cautions that these statements by their
nature involve certain risks and uncertainties and actual results may differ
materially depending on a variety of important factors, including, but not
limited to, the impact of competitive products, pricing and new technology;
changes in laws and regulations; and other factors. 





For Power Tree Corp
Greg Stuart, 561-241-6230 

Copyright Business Wire 2009

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.   Slideshow 

Most Popular on Reuters

  • Articles
  • Video