Silent Power is proud to announce its most recent round of financing.  This financing will be used to start to deliver on a number of projects that are scheduled for 2011.  Pictured above from left to right is Todd Headlee, CEO of Silent Power, Mark Vogt, President and CEO of Wright-Hennepin, and Arnie Johnson, Chairman of the Board for Silent Power.

Silent Power Raises $2 Million in Strategic Financing

Minnesota-headquartered company to increase commercial deployment, market penetration of its OnDemand energy storage system.

Baxter, Minn. (December 27, 2010) – Silent Power, Inc., the leading distributed energy storage systems company, announced today the sale of approximately $2 million of the company’s Series A preferred stock.

This round of financing will support the commercial deployment of Silent Power’s OnDemand energy storage systems and expand its distribution into new markets. Silent Power specializes in providing turn-key storage solutions for the challenges presented by integrating renewable energy and electric vehicle charging systems into utilities’ distribution systems and on customer premises.

The financing includes support from Hunt Technologies’ founder Paul Hunt, Wright-Hennepin Holding Company LLC, a subsidiary of Wright-Hennepin Cooperative Electric Association of Rockford, and strong ongoing support from existing investors.

“As a customer and distribution partner, we think Silent Power has put together a great and flexible solution for an application that’s poised for significant growth,” said Mark Vogt, President and CEO of Wright-Hennepin. “Intelligent, distributed energy storage is a critical and scalable asset class that will help our industry manage the increasing penetration of renewable energy, as well as improve the quality and reliability of power we provide our customers. Locally, we believe Silent Power’s products will provide Wright-Hennepin’s members with superior options as they consider renewable energy investments for their homes and businesses.”

England & Company served as exclusive financial advisor to Silent Power in this transaction.

Silent Power also recently elected Vogt as the newest member of its board of directors.

“We are delighted to welcome Mark Vogt to the board,” said Todd Headlee, CEO of Silent Power. “His expertise and industry insight will be essential as we expand our presence in the cooperatively owned utility markets around the nation and commercialize our energy storage technologies. We are honored to have the support of customers, fellow smart-grid innovators, and others involved in the financing. Our energy storage solutions are proven technologies that can help utilities rely on cleaner sources of energy and help homeowners seamlessly integrate renewable energy into their lives.”

About Silent Power

Based in Baxter, Minn., Silent Power, Inc. manufactures and markets easy-to-install, highly reliable distributed energy storage systems for the renewable energy and backup power markets. The company has developed dispatchable storage solutions for grid-tied solar and electric vehicle charging applications, and its solutions are easily adaptable to any battery chemistry and utility advanced metering infrastructure or distribution automation communications platform. The company has previously announced a smart grid pilot project with the Sacramento Municipal Utility District. For more information, please visit www.silentpwr.com.

Media Contact

Maria Surma Manka

952-851-7244

mmanka@tunheim.com

California Governor Arnold Schwarzenegger just signed AB 2514, an energy storage bill into law this evening.  The passage of this bill is a major step forward for reliable, clean and lower cost electric power for all Californians.  The bill recognizes that the amount of electricity that can be generated at any given time is a relatively fixed amount, but actual demand for electricity fluctuates throughout the day. Integrating energy storage technology will allow California’s electric distribution system to meet and accommodate the ups and downs of energy demand. Furthermore, increasing energy storage capacity would help promote intermittent energy sources like wind and solar power and contribute to an overall more reliable smart grid.  With storage, Californians will have clean power when and where they need it and with less need for new transmission lines.  Many experts believe that California will require about 4,000 megawatts of  storage mainly from batteries located close to loads on the distribution grid with the capability to store several hours of energy.  This is exactly the market the Silent Power is addressing with its OnDemand Energy Appliance.  Silent Power is leading the way in this area with the project that is underway in Sacramento at SMUD.

Silent Power is proud to be selected as featured speaker at the 3rd Annual Storage Week event this week in San Diego, California.  Todd Headlee will giving a presentation called “Maximizing Value Streams for Utilities by using Residential Energy Storage”.  The presentation will focus on the economic and societal benefits for putting energy storage at the edge of the grid by attaching it to residential and commercial Solar PV installations.

In the tradition of the previous two, sold-out editions of this flagship event, the expanded programming of Storage Week promises to be the ultimate networking event of the year for anyone with a stake in the integration of storage into the grid. The conference’s four separate but complementary events will cover the complete range of storage policies, markets, project applications and technologies.

Storage Week will kick off with a pair of Workshops on July 12 – Community Energy Storage and Making the Business Case For Grid-Scale Storage Projects. The two-day Energy Storage Summit (July 13 & 14) will examine the market design, policy incentives and barriers that apply to all storage systems. The Summit will be highlighted by two separate tracks: Bulk Storage and Grid Services. Storage Week will conclude on July 15 with the Technology & Investment Showcase; a future-oriented day dedicated to investment potential, market trends and astonishing new technology.

All four days of the meeting will not only tackle current policy and market barriers but will provide a robust environment for networking and deal-making between storage vendors and users as well as investors and storage companies seeking venture or growth capital. Once again, Storage Week will be the place to be this July for anyone with a stake in the integration of storage into the grid.

URL: http://www.infocastinc.com/index.php/conference/storage10

Baxter, MN – June 15, 2010 – Silent Power named as a semifinalist in Clean & Green category of the Minnesota Cup.

The Minnesota Cup is “an annual, statewide competition that seeks out aspiring entrepreneurs and their breakthrough ideas.”  The Cup is broken down into 6 divisions: BioSciences, High Tech, Clean Tech & Renewable Energy, Social Entrepreneurship, General, and Student.  Silent Power is one of 9 semifinalists in the Clean Technology & Renewable Energy Division.

Shown below, from left to right is Anne Archibald, Todd Headlee, and John Frederick of Silent Power attending the semifinalist reception at the JJ Hill Reference Library in St. Paul Minnesota.

for Solar Storage Pilot Project

MINNEAPOLIS (June 14, 2010) – Silent Power, a renewable technology company that designs distributed energy storage systems to maximize the value of renewable power resources, today announced it will supply the Sacramento Municipal Utility District (SMUD) with distributed energy storage technology to aid in completing the utility’s photovoltaic (PV) storage pilot at Anatolia.

The utility’s $5.9 million pilot project will evaluate how the integration of energy storage enhances the value of distributed PV resources for the community, the utility and the grid by reducing peak loads, firming intermittent renewable capacity and maximizing overall system efficiency. Silent Power’s OnDemand^™ Home Energy Appliance is a distributed energy storage device that will store excess energy generated by a homeowner’s solar power system. When energy is needed during super- peak demand times (4 p.m. – 7 p.m.), SMUD and their customers can draw upon this stored energy from the OnDemand^™ system.

“Silent Power is honored to be part of SMUD’s cutting-edge efforts to implement storage technologies within its broader smart grid initiatives in its community,” said Todd Headlee, Silent Power CEO. “Our technology is helping to make energy storage mainstream and increases the societal value of renewable energy. We envision a future in which every solar PV installation includes energy storage.”

“The pilot project further demonstrates SMUD’s industry leadership in integrating renewable technologies that maximize the grid’s clean energy and reliability for our customers,” said Mark Rawson, SMUD senior project manager. “As part of our efforts to more broadly deploy smart grid technologies that enable easier integration of renewables, storage could be a valuable asset for SMUD and its customers. This pilot helps us understand the technical and economic feasibility of these types of storage technologies.”

Silent Power’s OnDemand^™ system will be placed in 15 homes in the i Rancho Cordova, Calif. Community. The pilot project will allow monitoring of PV systems, along with energy storage, to give SMUD a better assessment of the value of distributed energy resources from a utility standpoint. SMUD will be able to determine how well the storage systems can support its super-peak consumption times, when output from the PV systems drops significantly. Based on these outcomes, the utility may replicate the technology throughout its service territory should it prove feasible.

Silent Power will work in partnership with GridPoint, an established leader in smart grid software, the National Renewable Energy Laboratory, Navigant Consulting, SunPower and Saft, a provider of high-tech lithium ion batteries, to offer SMUD a complete solution to energy storage and management needs. The OnDemand^™ system will work hand-in-hand with GridPoint’s energy storage and deployment software that will monitor and dispatch power. Saft will provide the lithium ion batteries needed to power the OnDemand^™ systems.

For more information on the SMUD smart grid pilot project please visit www.smud.org.

About Silent Power

Based in Baxter, Minn., Silent Power, Inc. manufactures and markets easy-to-install, highly reliable distributed energy storage systems for the renewable energy, electric vehicle charge station, and backup power markets. For more information, please visit www.silentpwr.com.

Silent Power was asked to participate in a round table discussion yesterday regarding the business of the Smart Grid and the benefits for Minnesota companies and workforce.  The meeting was sponsored by the Minnesota Trade Office and the University of Minnesota.  Pictured above is John Frederick of Silent Power presenting the business case for Silent Power and distributed energy storage.  Discussion throughout the day included the following.

• The Smart Grid Concept
• US Government Policy Priorities for smart Grid and CleanEnergy
• US Department of Energy Vision for the Smart Grid
• International and Export Business Opportunities in Smart Grid
• Venture Capital and Investment in a Smart Grid Future
• Panel Discussion: The Communications Backbone – Technology Standards Critical to Smart Grid
• Panel Discussion: Smart Grid Domestic and International Opportunities
• Panel Discussion: The Promise of Smart Grid – An Engine for Job Growth

This was a great event and created an even higher sense of urgency with Minnesota business leaders and government officials on how critical it is for Minnesota to play a big role in providing smart grid technologies to this new and potentially very large emerging industry.

Silent Power Selected for Green Energy Grant from the

Minnesota Office of Energy Security

Silent Power is selected to receive $560,000 in federal funding through

a Minnesota renewable energy grant program.

MINNEAPOLIS (June 7, 2010) – Silent Power, a Minnesota-based renewable technology company that designs distributed energy storage systems to maximize the value of renewable energy resources, today announced it has been selected to receive $560,000 as part of a federally funded renewable energy grant program. Administered by the Minnesota Office of Energy Security, the $2 million renewable energy grant was made available through federal stimulus dollars provided to the state. Officials anticipate that grants given to Minnesota companies like Silent Power will make the state a leader in renewable energy production and innovation.

Silent Power will use the grant funds to increase production and broaden the nation-wide distribution of its soon-to-be-released renewable energy storage devices. These products maximize the use of renewable energy in the home and by local utilities by storing the energy as it is being generated and then releasing it for use in the home or onto the power grid during peak consumption hours.

“Silent Power’s products will improve the value of residential renewable energy and provide utilities with the ability to store and tap green energy sources at the times of day when they are most needed,” said Todd Headlee, Silent Power CEO. “We are proud that Silent Power has been selected by the Minnesota Office of Energy Security to help meet the renewable energy needs of tomorrow by making renewable power more accessible across the country.”

About Silent Power Products

The difficulty with popular renewable energy sources, like solar and wind power, is that the power is typically generated when the demand for energy is low: most utilities experience peak electrical demand between 4 p.m. and 7 p.m., but unfortunately, most wind production occurs at night and solar production peaks around noon. As a result, utilities struggle to find an effective way to use renewable resources to provide consistent, reliable power to customers during peak consumption hours.

Silent Power produces technology that not only converts renewable energy sources into usable electric power, but stores the energy with advanced battery technology for use at a later time. Built for residential homes and small businesses with access to renewable energy sources, usually solar, Silent Power allows consumers to access renewable energy at the time of day when they need it the most. Also, as part of larger smart grid initiatives, the storage devices makes it easier for local utilities to store and then use that energy on the power grid during times of peak power demand.

About Silent Power

Based in Baxter, Minn., Silent Power, Inc. manufactures and markets easy-to-install, highly reliable distributed energy storage systems for the renewable energy and backup power markets. For more information, please visit www.silentpwr.com.

Silent Power attended the 20th Annual Energy Storage Association meeting last week in Charlotte, North Carolina.  There was a massive turnout this year with a strong presence from the investment, utility, and vendor community.  In the picture above is Jim Rogers, the CEO of Duke Energy giving one of the key note addresses.  Jim is a firm believer that several gigawatts of storage will be needed to offset the planned deployment of renewables in his territory over the next decade.  Some of the takeaways from his address is that distributed storage is more effective than centralized storage, and that more relief needs to be given to utilities to conduct storage technology pilot demonstrations.  Duke Energy is an early pioneer with the work they have done using their customers rooftops to deploy Solar PV technology.  Duke plans to continue this program which presents an opportunity to attach storage to many of these installations.  Another common theme during the keynote and during the entire event is that there are multiple value streams to the utility for the energy storage business case.  A lot of work is being done to quantify the various value streams by EPRI and various other organizations.  Out of the all storage technologies, many of the battery based solutions score quite well due to the multiple values streams that they can deliver.

Pictured above is US Senator Ron Wyden of Oregon, addressing the group.  Senator Wyden is the sponsor for the Storage Technology of Renewable and Green Energy Act.  Wyden and his staff have determined that energy storage is a mandatory component as many states and ultimately the nation marches towards a renewable energy portfolio standard.  Because storage is such a vital component to a clean energy economy, Wyden is proposing that energy storage technologies receive the same investment tax credit treatment that are currently in place for Solar and Wind.  The bill is technology agnostic and would apply to the entire Silent Power product family.  This bill would not likely be a standalone bill, but would be an element to any energy or climate change legislation that will be proposed this year.  The great news is that there doesn’t appear to be any obvious opposition to this bill.

Pictured above is John Frederick, myself, and Wyden staff member Dr. Ken Lutz.  Dr. Lutz is the chief architect of the Storage Technology of Renewable and Green Energy Act and key member of the Wyden team helping to develop energy policies and write legislation for the purpose of reducing the country’s use of fossil fuels, reducing dependence on foreign oil, and increasing energy efficiency.

California Assemblymember Nancy Skinner, working in partnership with California Attorney General Edmund G. Brown Jr., has introduced A.B.2514. The new legislation would mandate that utilities incorporate energy storage capacity into their operations: 2.25% of daytime peak demand for power by 2014 and 5% of peak demand by 2020.

Skinner and Brown maintain that enacting the bill will lower electricity costs and provide the state with an alternative to generating and supplying primarily fossil fuel-based power for only part-time daytime peak demand.

“Energy storage is the future,” Brown says. “It’s a fast-growing, clean technology industry that will save the state money and reduce pollution.”

“Given major advances in energy storage, the industry is now ready to provide high-technology, affordable, reliable products for California’s utilities and consumers,” adds Janice Lin, director of the California Energy Storage Alliance.

Bill proponents note that energy storage technologies can also increase the value and use of wind and solar power, which often rely on fossil fuel-based backup power.

[Via Renew Grid]