ARLINGTON, Va., April 24 - Reliable Power, a privately held corporation, announced that it has partnered with Sumitomo Electric Industries (SEI) to commercialize Sumitomo's proven energy storage system. This new technology, referred to as the VPS (Vanadium Power System) has thoroughly demonstrated consistent ability to efficiently store electrical power for multiple purposes, including uninterruptible power systems (UPS), peak shaving and load leveling. To date, the technology has primarily been deployed and proven in Japan.
Greg Renkes, Chairman of Reliable Power said, ``We are delighted to have been chosen by Sumitomo to assist in the commercialization of this exciting new technology in the North American market. The New Economy requires reliable, dependable power and Reliable Power can now fulfill this need for utilities and the high technology industry.''
``SEI has chosen Reliable Power to deploy our VPS technology because of their knowledge and expertise in the North American energy markets,'' said Kenshi Suzuki, spokesperson for Sumitomo Electric. ``Introducing this new technology through Reliable Power will greatly accelerate our plans to take advantage of the tremendous market opportunity before us,'' he added. Reliable Power plans to establish strategic relationships with selected utilities and high tech industries to further expedite the introduction of the VPS into the North American energy markets.