ViZn Energy Systems Secures $15 Million of Funding and Ends Staff Furlough

COLUMBIA FALLS, Mont., June 19, 2018 /PRNewswire/ — ViZn Energy Systems, Inc. (“ViZn”) announced today that the staff will be returning as the furlough has been suspended after approximately ten weeks. The company is pleased to announce the round of financing which has been led by a leading energy industry private equity fund and several of the company’s long-standing investors.  John Lowell, who has been serving as the Chief Operations Officer for 6 years, has also assumed the role of CEO.

“This technology is just too promising and the markets are learning that Lithium-Ion batteries are a ‘force-fit’ for long duration, 20-year duration, utility scale storage,” Lowell said. “We are going to take care of our partners, our employees and will make good on all purchase orders for customers in the Americas and Europe. We will finalize the field validation work for megawatt scale systems.”

The streamlining of the company will be driven largely by a reduction in the global commercial organization which will likely expand again in 2019. Lowell explains, “As the technology is validated, we will invest in expanding the commercial efforts and super-charging existing partnerships in emerging storage markets like China, India and Australia.”

ViZn Energy’s flow batteries experience zero capacity fade over 20 years and they have full access to 100 percent of their state of charge, giving them significantly more usable output than competitive batteries. They are also uniquely capable of performing both rapid, high-power discharges and slower, long-duration releases at lower power –  unlike other comparable storage technologies which can only do one or the other. The inherently safe zinc-iron chemistry uses globally abundant materials and is non-flammable, non-toxic, and easily recyclable at the end of its life.

 

ViZn Energy Systems Announces Leadership Change

COLUMBIA FALLS, Mont., Jan. 26, 2018 – ViZn Energy Systems, Inc. (“ViZn”) announced today that Stephen Bonner, who became Chairman of its Board of Directors on January 1, has also assumed the role of President and interim CEO following the resignation of Ron Van Dell.

“The ViZn vision is compelling – a breakthrough battery technology that is safe, cost-effective, and able to perform both power and energy services without degradation for 20 years. It is the missing link between accelerating sources of non-dispatchable renewable electricity and efficient delivery to the energy consumer. The zinc-redox flow battery is far superior to the constrained lithium-ion alternative,” Bonner said.

“There is nothing like this today, and I am honored to join the ViZn family to further commercialize and scale this innovation,” Bonner continued. “We appreciate Ron Van Dell’s contributions to ViZn and wish him every success in the future.”

Bonner was a Director as well as President and CEO of Cancer Treatment Centers of America for over 13 years. He is currently an advisor to four private equity firms as well as an Entrepreneur in Residence at The Harvard Business School. He is an investor, mentor, and advisor to many business and social entrepreneurs. He earned his Bachelor of Arts from Amherst College and his Juris Doctor from Mitchell Hamline College of Law.

ViZn Energy Systems Wins Order To Supply Flow Battery to CMI Energy Headquarters in Belgium.

ViZn Energy Systems Inc. (ViZn), a leading provider of utility-scale energy storage systems, and CMI Energy, a division of worldwide industrial leader Cockerill Maintenance & Ingénierie (CMI), are pleased to announce a strategic partnership on energy storage projects. The initial project features a 400 kilowatt, 3-hour, zinc redox flow battery system that will be integrated with 2 MWp of rooftop solar PV and installed at CMI’s headquarters in Seraing, Belgium.

“CMI is a leading EPC and has the engineering expertise to assimilate our zinc redox flow batteries into projects with business cases like peak shaving, time shifting, and numerous on-grid applications in addition to providing ongoing operations and maintenance over our systems’ 20-year lifespan,” said Ron Van Dell, CEO of ViZn Energy.

CMI Energy has been active in the energy business for 200 years and is a leader in the design and supply of numerous industrial-scale products for electric power plants such as industrial boilers, heat recovery systems, and solar thermal receivers. CMI Energy also utilizes its energy industry expertise to provide EPC and system integrator services for energy storage projects and with ViZn Energy will focus on renewables integration, wastewater treatment, mining, oil and gas, chemical, and other commercial and industrial energy storage use cases.

“We believe ViZn’s technology is very interesting and has significant potential in energy storage applications because it is non-toxic, utilizes abundant raw materials, is highly scalable, and can provide multiple revenue streams,” said Jean-Michel Gheeraerdts, Executive President at CMI Energy. “With renewables generation capacity rapidly growing, energy storage is set to expand globally. CMI Energy has conducted a thorough study and decided to invest in its headquarters with a 2MWp PV system and battery storage, which will help CMI demonstrate technologic and economic viability in both grid-tied and off-grid operations. CMI has created a new business unit dedicated to energy storage and is definitively moving forward to meet growing demand with a bankable solution.”

ViZn is currently delivering systems in the United States, Canada, Central America, Europe, and India. ViZn Energy’s flow batteries are uniquely capable of performing both rapid, high-power discharges and slower, long-duration releases at lower power – unlike other comparable storage technologies which can only do one or the other. This ability to provide a second daily cycle of merchant services can result in 50 percent more revenue per year. The inherently safe zinc-iron chemistry uses globally abundant materials and is non-flammable, non-toxic, and easily recyclable at the end of its life.

About CMI

CMI designs, modernizes and maintains equipment in the domains of energy, defense, industry, the environment and railways. The solutions which CMI offers its clients contribute to improving the economic and technical performance of their production equipment, while reducing their environmental footprint. With turnover of almost 1.2 billion Euros and a highly qualified workforce of over 4,600, the CMI Group is based in Seraing (Belgium) and has locations in Europe, the United States, Africa, Brazil, Russia, India and China. www.cmigroupe.com

ViZn Energy declared as the Leader among Global Grid Scale Non-Lithium Ion Energy Storage Technologies by Navigant Research.

Navigant Research Leaderboard: Non-Lithium Ion Batteries for Grid Storage

Assessment of Strategy and Execution for 13 Non-Li-Ion Battery Energy Storage Vendors

During the past 2 years, lithium ion (Li-ion) batteries have emerged as the most widely deployed technology for new stationary energy storage projects. These batteries are typically selected due to the attractive combination of low cost and highly reputable vendors. Driven by increases in manufacturing capacity and sales volumes from the complementary EV industry, Li-ion battery pack costs have decreased dramatically. Yet, despite their popularity, Li-ion batteries are not well-suited for certain stationary storage applications.

Many non-Li-ion battery technology providers are hoping to capitalize on the weaknesses of Li-ion technology and capture a piece of this rapidly growing industry. Non-Li-ion battery providers include both startups and large, well-established corporations. While some non-Li-ion technologies have just emerged from laboratories and been introduced to the market, others have been utilized for decades. Within the stationary storage market, sodium sulfur (NaS) batteries have been widely deployed around the world. However, the high costs for NaS systems compared to alternatives combined with safety concerns due to several battery fire incidents have allowed both Li-ion and new non-Li-ion technologies to capture market share. Vendors are working to take advantage of the strengths of each of the technologies, including non-Li-ion solutions such as flow batteries, advanced lead-acid batteries, and zinc-based batteries.

This Navigant Research Leaderboard evaluated the Strategy and Execution of 13 leading non-Li-ion battery energy storage providers. These companies are rated on 12 criteria: vision; go-to-market strategy; partners; production strategy; technology; geographic reach; sales, marketing, and distribution; product performance; product quality and reliability; product portfolio; pricing; and staying power. Using Navigant Research’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the global market for non-Li-ion batteries for grid energy storage.

For more: https://www.navigantresearch.com/research/navigant-research-leaderboard-non-lithium-ion-batteries-for-grid-storage