BLUE BELL, Pa., June 28 /PRNewswire-FirstCall/ -- C&D
Technologies, Inc. (NYSE: CHP), a leading producer and marketer of
batteries, battery systems and integrated standby power systems,
today announced that the company has been awarded a contract by the
US Army for the development of an advanced energy storage system
for renewable energy applications incorporating advanced lead
carbon batteries. The new contract will span an estimated three
year period from June 15, 2010, with
the objective of developing an energy storage system for use in
grid connected systems, off-grid applications, and micro-grid
environments in conjunction with the Army Renewable Energy
Generation Systems (REGS). The technologies developed under
the program will also be utilized in meeting the needs of C&D's
commercial customers with potential application to large-scale
grid-energy storage, community energy storage, and renewable energy
applications, in addition to broader application in other branches
of the military. The result will be a domestic U.S. source for a
modular, highly reliable energy storage system with the potential
for achieving economies of scale to ensure affordability for a
range of military and commercial renewable energy applications.
This new advanced energy storage system will be developed and
produced in C&D's Blue Bell
and Leola, Pennsylvania
facilities.
With power demands growing in the many global deployments, the
U.S. Army is working to increase the use of renewable energy to
reduce dependence on fossil fuel resources and to achieve 'net zero
energy' (NZE) for their base grid and micro-grid systems.
Achieving NZE requires modular electrical energy storage
systems to both store and dispense energy to maximize the renewable
energy generation now being deployed. The market for NZE systems is
expected to grow as more military systems utilize renewable energy
to provide grid power, backup power and supplemental power to the
many deployed electronic systems supporting U.S. soldiers and their
equipment in the field. These systems provide basic living needs
and also support equipment supplying vital information and support
for the military infrastructure deployed in foreign lands.
A central focus of the program is the development of a new
generation of energy storage batteries that incorporate carbon
nano-phase technologies. These batteries will have
exceptional cycling properties that are required for effective wind
and solar application, and yet will be highly cost effective,
reliable and fully recyclable at the end of product life.
"This contract will allow C&D Technologies to develop a
modular energy storage system using advanced lead-carbon batteries
to support the Department of Defense initiatives to incorporate
renewable energy generation sources into their grid and micro-grid
systems," said Dr. Jeffrey Graves,
President and CEO of C&D Technologies. Dr. Graves continued,
"This contract effectively leverages our most advanced R&D
investments in carbon nano-technology and advanced battery
manufacturing processes, to create sustainable, high value 'green
collar' manufacturing and R&D jobs at our Pennsylvania facilities."
The funding profile for the contract includes an initial
installment of approximately $1.2
million for use immediately, with the balance of the
contract funding anticipated over the remaining two years of the
program. The U.S. Army Research, Development and Engineering
Command Contracting Center, Adelphi,
Md., is the contracting agency (number
W911QX-09-C-0076).
C&D Technologies, Inc.
C&D Technologies provides power solutions and services for
the telecommunications, uninterruptible power supply (UPS),
switchgear and control (utility), and emerging markets. C&D
Technologies' engineers, manufactures, sells and services fully
integrated reserve power systems for regulating and monitoring
power flow and providing backup power in the event of primary power
loss until the primary source can be restored. C&D
Technologies' unique ability to offer complete systems, designed
and produced to high technical standards, sets it apart from its
competition. C&D Technologies is headquartered in Blue Bell, PA. For more information about
C&D Technologies, visit http://www.cdtechno.com.
C&D® is a registered trademark of C&D Technologies,
Inc.
Forward-looking Statements:
This press release may contain forward-looking statements
(within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934), which are
based on management's current expectations and are subject to
uncertainties and changes in circumstances. Words and expressions
reflecting something other than historical fact are intended to
identify forward-looking statements, but are not the exclusive
means of identifying such statements. Factors that appear with the
forward-looking statements, or in the company's Securities and
Exchange Commission filings (including without limitation the
company's annual report on Form 10-K for the fiscal year ended
January 31, 2010, or the quarterly
and current reports filed on Form 10-Q and Form 8-K thereafter),
could cause the company's actual results to differ materially from
those expressed in any forward-looking statements made herein,
including but not limited to future contract awards by the US Army,
developments and the potential for achieving results relating to
lead-carbon batteries, growing needs of the US Army for battery
systems, technologies developed under the Army program, needs of
C&D's commercial customers, potential applications relating to
large-scale grid-energy storage, markets for lead-carbon batteries,
and future approvals by Congress for contract funding.
SOURCE C&D Technologies, Inc.