Arlington, Va. – March 6, 2014 – AES Energy Storage today revealed the AES Battery Integration Center, a technology center located in Indianapolis, Ind., that evaluates advanced battery and power conversion technologies for use in AES Advancion™ – a complete battery-based energy storage offering, which is now available to utility buyers and renewable developers in select markets. LG Chem and Parker Hannifin are the first manufacturers to become certified suppliers for Advancion through the development of supplier-specific control modules at the Battery Integration Center. This framework reduces costs and enables increased scale by creating a channel for more battery and power conversion manufacturers to participate in AES customer solutions.
“Through the work at the Battery Integration Center, AES Advancion combines best-in-class battery technology and power conversion equipment with our proven control architecture to offer a comprehensive approach to storage solutions,” said Brett Galura, Vice President, Solution Development, AES Energy Storage. “LG Chem and Parker Hannifin are two leading suppliers that will help us continue to bring the benefits of energy storage innovation to key markets.”
AES-certified suppliers are pre-qualified for consideration in Advancion for all future AES customer solutions. AES certified LG Chem’s battery sub-system and Parker Hannifin’s power conversion system into Advancion in 2013. These components are currently running as part of an Advancion battery array at an AES site in Indianapolis, Ind., in a utility environment.
Advanced Battery Technology
LG Chem delivers reliable technology that has proven itself across a wide range of industries, including consumer electronics, transportation, and, increasingly, in utility applications. Its battery system is currently used in several other grid storage projects, including Southern California Edison’s 32 MW battery in Tehachapi, Calif.
“We’re pleased to enter into this relationship with AES to further expand the utilization of LG Chem batteries in power grid applications,” said Sunghoon Jang, Vice President of the Energy Solution Company at LG Chem. “When we combine AES’ leadership in providing grid-scale energy storage solutions to utility markets with our advanced battery technology, we’re able to deliver a long-term solution that safely meets customers’ capacity needs.”
Industry-Leading Power Conversion Equipment
Parker Hannifin is a leader in motion and control technologies and has supplied its power conversion systems to the storage fleet in the past, including the AES Laurel Mountain Storage Array, where AES is providing 64 MW of advanced battery-based resource. Parker Hannifin's modular, scalable inverter design allows AES to size the system to the customer’s requirements quickly.
“We have a proven track record of engineering and commissioning advanced battery energy storage systems across the country, and we look forward to building on our long history of working with AES,” said Jim Hoelscher, General Manager, Parker Hannifin’s Global Energy Grid Tie Division. “Our power conversion systems are highly scalable and can be customized for a number of applications, making them ideal for use with the AES solution architecture.”
AES also announced today its Storage Applications Center to test and validate next-generation storage applications within the Advancion architecture.
AES currently has more than 200 MW of grid-scale, power plant equivalent flexibility resource in commercial operation and construction. AES storage resources are currently deployed in the United States and South America.
About AES Energy Storage Solutions
AES is a leader in commercial energy storage partnerships, which enable utilities, power markets and renewable developers to manage projects from concept to operation. The company’s energy storage solutions unlock value from existing power infrastructure, liberating reserve capacity, enabling renewable facilities to generate new revenue streams, improving flexibility and reliability of the power system, and meeting peak power demand. With 200 MW of storage-based resources in operation and construction, AES has the largest fleet of battery-based storage assets in commercial operation today. The company has over 1,000 MW in development with prospects in the US and abroad. To learn more, please visit www.aesenergystorage.com or @aes_es on Twitter.
About AES
The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 21 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 22,000 people is committed to operational excellence and meeting the world’s changing power needs. Our 2013 revenues were $16 billion and we own and manage $40 billion in total assets. To learn more, please visit www.aes.com.
About LG Chem
LG Chem, Ltd., is a globally diversified chemical company that operates three main business units: Petrochemicals, IT & Electronic Materials, and Energy Solution. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas, such as electronic materials and rechargeable batteries. LG Chem is one of the world’s largest lithium-ion battery manufacturers. For more information, please visit the LG Chem website at www.lgchem.com
About Parker Hannifin
Parker Hannifin Corporation (NYSE: PH), based in Cleveland, Ohio, is the world's leading manufacturer of motion and control technologies systems with annual sales exceeding $13.0 billion in fiscal 2013. Parker provides precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company employs approximately 58,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 57 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index.
Our power conversion and inverter business was founded in 1974 and formerly doing business as Eurotherm Drives, the EGT Drives Division at Parker has 39 years of experience in the industry. Today, the Parker EGT, has 1,000 employees, and is manufacturing over 200,000 high-performance drive and motor units each year from plants in the UK, France, Germany and the United States. Because the company manufactures all its own products it means Parker Hannifin can ensure products are always based on the fundamental principles of ease of use, exceptional functionality, affordability, and above all, reliability. Parker Hannifin currently has manufacturing and/or sales and service offices in the following countries around the world; Australia, Belgium, Brazil, Canada, China, France, Germany, India, Italy, Singapore, Spain, Sweden, UK and United States.
AES Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’s current expectations based on reasonable assumptions. Actual results could differ materially from those projected in AES’s forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the Tender Offer Materials related to the Tender Offers and AES’s filings with the SEC, including, but not limited to, the risks discussed under Item 1A “Risk Factors” and Item 7 “Management’s Discussion & Analysis of Financial Condition and Results of Operations” in AES’ 2013 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES’s filings to learn more about the risk factors associated with AES’s business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Anyone who desires a copy of AES’s 2013 Annual Report on Form 10-K dated February 26, 2014 may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made.
