Press release from Business Wire
AES Brings Patented Storage Operating System (sOS™) to Market
<p class='bwalignc'> <i>Platform Includes Application-Specific Modules for Customers in Key Power Markets in the US and Around the World</i> </p>
Tuesday, May 21, 2013
AES Brings Patented Storage Operating System (sOS™) to Market08:00 EDT Tuesday, May 21, 2013
ARLINGTON, Va. (Business Wire) -- AES today announced its market-dynamic, technology-aware control platform for the commercial operation of energy storage. This patented operating system, called sOS™, is a fast-response architecture that applies patented performance algorithms to automate the operation of AES-delivered battery-based energy storage arrays, optimizing performance and efficiency for customers, and extending the life of the battery.
“Utility customers are looking for energy storage arrays that deliver maximum performance and efficiency, and sOS™ brings that performance without locking buyers into a specific storage technology,” said Chris Shelton, President of AES Energy Storage. “The development of sOS™ leveraged the decades of experience that AES has in serving power markets around the world and our unique understanding of the energy storage market – an understanding that comes from investing, owning and operating over $100 million worth of storage assets.”
The platform includes modules designed to optimize performance in key markets and applications that react to desired performance conditions within those markets. It is on these market-specific modules that existing AES storage arrays with PJM, NYISO and ERCOT currently run, maximizing the value for customers in those markets.
The unique modules within the platform allow AES to quickly deploy energy storage solutions that will immediately deliver value within the operating guidelines for each individual market. To date, AES has developed and is offering customized modules for the PJM, NYISO, ERCOT and Puerto Rico markets. AES is developing additional modules for key markets in the US and around the world, making these efficient energy storage resources available to customers in new markets.
The platform can accommodate any number of inverter or battery technologies through its AES-designed reference architecture for technology suppliers. The architecture enables the seamless and efficient integration of underlying battery and inverter technologies into the larger sOS™ platform. This allows for the uniform control of all AES storage arrays, independent of which suppliers are chosen for a facility.
"Building on our inverter technology at Parker, AES has been able to deliver comprehensive grid storage solutions into the power industry. Our inverter systems combined with their market-focused operational controls have allowed them to consistently deliver high levels of efficiency and flexibility to power markets," said Jim Hoelscher, General Manager, Parker Hannifin's Global Energy Grid Tie Division.
Designed with battery life in mind, the sOS™ platform enables the system to automatically make trade-off decisions during operation, matching the system performance specifically to the market need in that instant. This function reduces ramping, improves efficiency, and enables battery longevity and increased performance while also allowing AES to right-size projects, ensuring that facilities are built to match the needs of the customer.
"We've architected sOS™ to respond to the needs of each of our current and prospective customers, while providing the best value. This platform is already proving its ability to deliver results for customers every day across three power markets in the US,” added Brett Galura, Vice President, Solution Development.
About AES Energy Storage
AES Energy Storage is a subsidiary of the AES Corporation (NYSE: AES), a company that has served utility customers around the world for 30 years, helping them to deliver safe, reliable power. The company 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 allow customers to unlock value from existing power infrastructure by 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 150 MW of resources online, AES Energy Storage operates the largest fleet of battery-based storage assets in commercial operation today. The company has over 1,000 MW in development in the US, South America, Europe, and Asia. To learn more, please visit www.aesenergystorage.com or @aes_es on Twitter.
The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 23 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 25,000 people is committed to operational excellence and meeting the world's changing power needs. Our 2012 revenues were $18 billion and we own and manage $42 billion in total assets.
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. Such forward-looking statements include, but are not limited to, the expected closing date of the offering of the Notes and our intended use of proceeds and anticipated use of our shelf registration statement, which are subject to risks and uncertainties, such as our continued eligibility to use the shelf registration statement, general economic conditions and other risks and uncertainties. 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 our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the prospectus supplement related to the offering 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's 2012 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.
Any Stockholder who desires a copy of AES's 2012 Annual Report on Form 10-K dated on or about February 26, 2013 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.
Kristin D?Ambrosio, 212-331-8414