ViZn Energy Systems and LFC Capital Announce An Innovative Ownership Program For Solar and Energy Storage

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AUSTIN, Texas, February 26, 2015 – ViZn Energy Systems Inc. (ViZn), a leading provider of energy storage systems for commercial & industrial, microgrid and utility applications, and LFC Capital, Inc., an equipment leasing and financial services company with more than $1.5 billion of experience, has teamed up to make property owners’ acquisition of solar PV and energy storage affordable. The availability of as much as $5 million per project is expected to accelerate the deployment of ViZn’s Z20 Energy Storage System, a zinc/iron redox flow battery. LFC Capital’s program uses a traditional operating lease with attractive ownership options after six and seven years, plus tax efficiency to provide companies with a low-cost path to ownership. LFC also encourages the use of a follow-on loan as a way to conserve cash and maintain low monthly payments throughout an extended investment period.

The ideal project size is a 50 kW to 1,000 kW solar PV installation requiring 80 kWh to 500 kWh of energy storage. LFC’s program, available to qualified companies in all 50 states, appeals to companies that cannot directly benefit from a federal tax credit, or simply want energy savings and off-balance sheet accounting without a long-term commitment to a power purchase agreement.

David Mintzer, ViZn’s Vice President of Business Development, said, “We’re excited to partner with LFC Capital. LFC’s program will make the combination of our energy storage system with solar PV affordable to a wider group of commercial and industrial property owners installing microgrids and give ViZn a greater presence in this important market.”

“We’re very happy to be partnering with ViZn to provide their customers with a low-cost way to acquire a battery-enhanced solar PV system,” said Stanley S. Fishbein, JD, LLM (Tax), Managing Director of LFC Capital. “Our program is fast becoming the most popular way for companies to derive more value from a variety of incentives when undertaking a solar PV project.”

ViZn’s Z20 product is safe, non-toxic and can be located in populated areas close to hospitals or schools. The Z20 offers a number of benefits over competing battery storage products, including one of the fastest charge and discharge responses on the market, a design that will withstand significant temperature fluctuations and facilitate multiple discharge cycles each day. It is the most cost-effective flow battery system on the market today.

ViZn Energy Systems Announces Fundraising Success, and Expansion to Open Corporate Headquarters in Austin, TX

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AUSTIN, Texas, 10 February 2015 – ViZn Energy Systems Inc. (ViZn), a leading provider of energy storage systems for commercial, industrial, microgrid and utility applications, is pleased to announce that it has raised $24 million to date, including over $7 million in 2014.  ViZn will expand its operations into Austin, Texas with the opening of its new corporate headquarters. The Austin office will house ViZn’s executive level staff along with certain new company functions.

ViZn has expanded its capabilities at its Montana facility, where the company’s design center, engineering and operations staff are located. This expansion supports an increase in development and production of its next generation zinc-iron flow batteries.  The company expects to ship more than 1 MWh of systems in the first half of 2015.

Ron Van Dell, President and CEO of ViZn, commented, “We are seeing tremendous interest in our flow battery systems. With more and more customers seeking a cost effective and safe energy storage system to meet their energy needs, our expansions this year in Texas and Montana will allow us to meet the growing demand for our best-in-class solutions.”

Van Dell continued, “Our decision to locate to Austin was based on my own personal experience and the city’s reputation as a thriving technology hub and supportive community for startups. We are looking forward to the advantages and opportunities that come along with establishing a presence in a city that embraces pro-growth policies and is quickly establishing itself as one of the leading cleantech centers in the U.S.”

The Austin Chamber’s Clean Energy Council says Austin is home to more than 200 cleantech companies that employ 20,000 people, and according to the Austin Technology Council, the technology sector in Austin contributes $21.5 billion annually to the regional economy and supports 26 percent of local jobs.