Integrated Energy Generation and Storage Solution Will Eliminate Costly Power Disruptions While Reducing Costs and Carbon Emissions
BONITA SPRINGS, Fla., July 01, 2024 (GLOBE NEWSWIRE) — e2Companies, a leading provider of integrated solutions for power generation and distribution, will install its patented R3Di® System to improve power quality and reliability for Oil Creek Plastics, a family owned and operated business in Titusville, Pennsylvania.
Located in the birthplace of the oil industry, the company has been an industry leader in the small diameter pipe and tubing market since 1972 and is known for its innovative products designed for multiple infrastructure applications. However, in recent years, disruptions in the power supply have become increasingly common at the facility, impacting production and leading to tens of thousands of dollars in downtime and material costs each month.
The facility uses sensitive electronic equipment used to manufacture large rolls of plastic pipe. When operations experienced a disruption in power, they had to restart production and recalibrate equipment.
To solve these challenges, the R3Di® System will provide two megawatts (2MW) of uninterruptible, conditioned power for the building. In addition to connecting to the electric grid and a natural gas generator, the R3Di® System will store energy from the facility’s 1000kW solar photovoltaic panels.
e2Companies combines the system with grid optimization software and services to strategically dispatch power based on weather, market pricing, and grid conditions to make it a full-service Virtual Utility®, the first utility-grade network of Distributed Energy Resources (DERs) operating as a turnkey, integrated solution.
The project is expected to be completed and commissioned by the end of 2025.
“The new R3Di® System will eliminate brown outs and black outs, improving the efficiency of our machines and employees while also allowing us to reduce costs and carbon emissions using the system’s Battery Energy Storage System and natural gas generators,” Oil Creek Plastics Owner CJ Kirvan said.
The system is “designed to run flexibly, with the ability to power critical loads for building operations while benefiting from onsite solar generation to lower total kWh usage and increase the potential to receive credits from the public utility for producing excess power on hot sunny days,” according to e2Companies Business Development Lead Matt Graham.
The facility will also benefit from tax incentives as a result of the federal Inflation Reduction Act, which provides an investment tax credit of 30% for qualifying projects that include microgrids with energy storage technologies.
The project was referred by Voltus, a leading platform for distributed energy resources and demand response programs that helps customers earn money by curtailing energy consumption during peak times.
About e2Companies
e2Companies is accelerating the energy transition with Virtual Utility®, the first utility-grade network of distributed energy resources that delivers Grid 3.0, autonomous grid stability. e2Companies’ patented technology, the R3Di® System, provides a synthetic utility BUS with inertia for continuous on-site power and seamless resiliency. The R3Di® System is continuously monitored by the Grove365 to optimize resources, track ESG targets, and unlock new revenue opportunities for customers.
To learn more about e2Companies, visit www.e2companies.com.
Investor Contact
Investors may contact investorrelations@e2companies.com with inquiries.
Media Contact
Media may contact marketing@e2companies.com or call 844-397-2692.
GlobeNewswire Distribution ID 9171104