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4 February

Savings Through Smart Grid Technologies of Green Charge Networks

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Businesses and Municipalities Look to Save Money Through Smart Grid Technologies

Silicon Valley Startup Green Charge Networks Signs 1 MW of Intelligent Energy Storage

SANTA CLARA, Calif. (Feb. 4, 2014) – Green Charge Networks, a leader in intelligent energy storage, has signed agreements for 1 MW of energy storage with retail chain customers and city municipalities that are seeking to reduce their electricity bills through smart grid technologies. Many businesses in California and New York City pay 40% or more of their monthly electric bill in “demand charges” based on their peak electricity use. Green Charge Network’s (GCN) proven GreenStationTM technology uses utility and weather data to predict peak use and store energy accordingly. This reduces these demand charges and saves businesses thousands of dollars. 7-Eleven stores have been using GCN’s GreenStationTM successfully for the past two years. One 7-Eleven GreenStationTM in New York endured Hurricane Sandy and then went on to save the business 56% on their electricity bills during the 2013 summer heat wave. Green Charge Networks is adding to its list of customers including 7-Eleven, Walgreens, office buildings, community colleges, and municipalities, adding up to 1 MW as listed on the DOE’s Global Energy Storage Database.“It is a big accomplishment to our company to help businesses and local governments use power more efficiently,” said Vic Shao, CEO at Green Charge Networks. “1 MW marks a very significant milestone for Green Charge Networks as we continue to diversify our customer base and increase our penetration in the rapidly growing intelligent energy storage market. Energy efficiency initiatives can only take us so far. The era of power efficiency using advanced software is the next frontier in energy savings.” America’s aging grid is in need of an update. Not only can smart grid technologies like GreenStationTM save businesses thousands of dollars on their electricity bills, they are also an important tool in both climate change adaptation and mitigation. GreenStationTM is designed to withstand storms as fierce as Hurricane Sandy or temperatures as extreme as the recent polar vortex. The combination of an aging utility grid and increasing storms due to climate change is a deadly mix. Between 2003-2012, the US experienced 679 major weather related outages, including 7 of the 10 costliest storms in US history (White House Report). GCN’s GreenStation TM energy storage technology helps businesses regulate their energy use so that even during extreme weather events they don’t pay special “demand” charges for peak energy use. If smart grid technologies like GreenStation TM were implemented nationally they could save the energy equivalent of 4,000 coal plants per year (Energy Manager Today).
About Green Charge NetworksFounded in 2009, Green Charge Networks is a leader in intelligent customer-sited energy storage. The company gives commercial and industrial customers control of rising demand rates on their monthly electric bills. Green Charge Networks’ product complements solar PV, electric vehicle charging, and energy efficiency. The GreenStationTM was developed in partnership with leading utilities around the country, the U.S. Department of Energy, and Fortune 500 customers. GCN is headquartered in Santa Clara, CA with office in Brooklyn, N.Y. For more information, visit www.GreenChargeNet.com.
CONTACT:Tram Tran Green Charge Networks: 408-638-0072, tram@GreenChargeNet.com