Financial News
Yotta Energy Teams Up with Flex to Manufacture PV-Coupled Energy Storage System
March 31, 2021 at 03:00 AM EDT
Partnership will accelerate time to market for cost-effective, panel-level energy storage technology
AUSTIN, TX and SAN JOSE, CA, March 31, 2021 /24-7PressRelease/ -- Yotta Energy, a groundbreaking solar-plus-storage solution provider, today announced that it has selected Flex (NASDAQ: FLEX), as its manufacturing partner for the production of its PV-Coupled™ energy storage system. This partnership will allow Yotta to rapidly scale its technology for commercial and industrial markets.
"Following our funding announcement at the end of last year, we knew one of the first steps towards capturing the commercial rooftop solar-plus-storage market in the United States was to commercialize our PV-Coupled energy storage solution," said Yotta Energy CEO, Omeed Badkoobeh. "A crucial part of this is working with a manufacturing partner, such as Flex, to help us rapidly scale to meet the demands of our growing customer base."
"We are proud to support Yotta in meeting the demand for its PV-coupled energy storage solution," said Jeffrey Kelley, Vice President, at Flex. "Energy storage is key to helping companies address growing demand charges and helping municipalities and utilities meet their net zero carbon emissions goals. We are thrilled to help Yotta dramatically decrease their time to market."
Yotta Energy has created the first panel-level energy storage solution that fits perfectly behind any industry standard solar module, neatly integrating into solar PV racking in place of concrete ballast. Its format follows the success of module-level power electronics (MLPE) which has become the dominant technology offering in the industry. Yotta's distributed energy storage technology is ideal for commercial and industrial applications because it doesn't need to be indoors due to its patented thermal management system. Yotta's technology is a game changer for the energy storage industry because it reduces total installed system cost.
"By aligning with Flex, we are tapping into their world-class experience in manufacturing sustainable products in rapid timeframes, so we can quickly ramp our production and scale commercially," said Badkoobeh. Wood Mackenzie's latest energy storage installation data for Q4 of 2020 showed that, despite the global pandemic, more energy storage was installed in the last quarter than in 2013 through 2019 combined, highlighting the surge in demand. The upward trend for energy storage installations is expected to continue as more people across the United States experience power outages and look for ways to increase grid resiliency and reliability.
About Yotta Energy
Yotta Energy is a renewable energy storage company headquartered in Austin, Texas. Yotta has developed unique PV-Coupled™ architecture, a smart energy storage solution designed to effortlessly scale with rooftop solar PV projects. At about the size of a briefcase, Yotta's patented panel-level energy storage solution can fit under any industry standard solar module, neatly integrating with the solar racking array. Yotta's technology features advanced thermal management to maintain an optimal working temperature even under extreme outdoor conditions. As an integrated software plus hardware solution, Yotta also helps address grid outages by enhancing grid resilience and reliability. Yotta's technology allows for a much lower total cost of installation for rooftop solar-plus-storage than any other current energy storage systems available today. Learn more at www.yottaenergy.com.
About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. Learn more at www.flex.com
Media Contact:
Mercom Communications
Tel: 1-512-215-4452
Email: yotta@mercomcapital.com
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Press release service and press release distribution provided by http://www.24-7pressrelease.com
AUSTIN, TX and SAN JOSE, CA, March 31, 2021 /24-7PressRelease/ -- Yotta Energy, a groundbreaking solar-plus-storage solution provider, today announced that it has selected Flex (NASDAQ: FLEX), as its manufacturing partner for the production of its PV-Coupled™ energy storage system. This partnership will allow Yotta to rapidly scale its technology for commercial and industrial markets.
"Following our funding announcement at the end of last year, we knew one of the first steps towards capturing the commercial rooftop solar-plus-storage market in the United States was to commercialize our PV-Coupled energy storage solution," said Yotta Energy CEO, Omeed Badkoobeh. "A crucial part of this is working with a manufacturing partner, such as Flex, to help us rapidly scale to meet the demands of our growing customer base."
"We are proud to support Yotta in meeting the demand for its PV-coupled energy storage solution," said Jeffrey Kelley, Vice President, at Flex. "Energy storage is key to helping companies address growing demand charges and helping municipalities and utilities meet their net zero carbon emissions goals. We are thrilled to help Yotta dramatically decrease their time to market."
Yotta Energy has created the first panel-level energy storage solution that fits perfectly behind any industry standard solar module, neatly integrating into solar PV racking in place of concrete ballast. Its format follows the success of module-level power electronics (MLPE) which has become the dominant technology offering in the industry. Yotta's distributed energy storage technology is ideal for commercial and industrial applications because it doesn't need to be indoors due to its patented thermal management system. Yotta's technology is a game changer for the energy storage industry because it reduces total installed system cost.
"By aligning with Flex, we are tapping into their world-class experience in manufacturing sustainable products in rapid timeframes, so we can quickly ramp our production and scale commercially," said Badkoobeh. Wood Mackenzie's latest energy storage installation data for Q4 of 2020 showed that, despite the global pandemic, more energy storage was installed in the last quarter than in 2013 through 2019 combined, highlighting the surge in demand. The upward trend for energy storage installations is expected to continue as more people across the United States experience power outages and look for ways to increase grid resiliency and reliability.
About Yotta Energy
Yotta Energy is a renewable energy storage company headquartered in Austin, Texas. Yotta has developed unique PV-Coupled™ architecture, a smart energy storage solution designed to effortlessly scale with rooftop solar PV projects. At about the size of a briefcase, Yotta's patented panel-level energy storage solution can fit under any industry standard solar module, neatly integrating with the solar racking array. Yotta's technology features advanced thermal management to maintain an optimal working temperature even under extreme outdoor conditions. As an integrated software plus hardware solution, Yotta also helps address grid outages by enhancing grid resilience and reliability. Yotta's technology allows for a much lower total cost of installation for rooftop solar-plus-storage than any other current energy storage systems available today. Learn more at www.yottaenergy.com.
About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. Learn more at www.flex.com
Media Contact:
Mercom Communications
Tel: 1-512-215-4452
Email: yotta@mercomcapital.com
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