The IceBrick system is the first, distributed, large-scale
dispatchable supply-side thermal-energy storage technology to
obtain qualified capacity, not subject to interconnection
IRVINE,
Calif., Sept. 19, 2023 /PRNewswire/ -- Nostromo
Energy, Inc. (TASE: NOST), provider of the
IceBrick® system, a virtual power plant
(VPP)-enabled distributed thermal energy storage solution for
commercial and industrial (C&I) buildings, announced today
that the California Public Utilities Commission (CPUC) awarded
Nostromo's IceBrick energy storage systems Resource Adequacy (RA)
eligible Qualified Capacity for 2024 as Demand Response (DR)
resources.
Utilities and community choice aggregators (CCAs) in
California must procure qualified
capacity to meet their resources adequacy obligations, set by the
CPUC, but resources are slow to come online due to long
interconnection queues, which average above 4 years in California. The IceBrick systems, as
dispatchable, supply-side, behind-the-meter thermal energy storage
technology, are not subject to these queues and can be online
within 6-9 months from contracting with the site owner.
"The Resource Adequacy award for the IceBrick systems presents a
unique opportunity to quickly scale-up large qualified capacity
inside the built environment, without interconnection queues, which
is the main challenge for utilities and CCAs to meet the increasing
CPUC RA procurement targets" said Yoram Ashery, CEO of Nostromo
Energy. "We look forward to partnering with utilities and CCAs on
deploying IceBrick systems in their service area to provide local
RA while helping their customers reduce their energy costs and
carbon emissions."
Nostromo is in the process of initiating the deployment of 120
IceBrick systems with an aggregate capacity of 100/275
MW/MWh-equivalent over the next 3 years, with potential
$176M loan from the US Department of
Energy's Loan Programs Office. This initial award for 2024 is for
1.4 MW, as requested by Nostromo. The systems will operate as an
automated VPP via remote management and are capable of dispatching
energy to lower demands according to grid signals.
The IceBrick Innovation Center and visitors center is located
inside the Beverly Hilton hotel in Beverly Hills, CA, which also hosts a 1.4
MWh-equivalent IceBrick system serving both the Beverly Hilton and
the adjacent Waldorf Astoria hotel.
About Nostromo
Nostromo Energy's ice-based energy storage solution is
redefining energy storage for commercial and industrial (C&I)
buildings. The Nostromo IceBrick® system uses ice to
store energy when electricity prices are low, renewable energy is
abundant and the grid has excess capacity, and discharges the
stored energy to avoid peak prices, emissions from gas-peaker
plants and grid congestion during peak time. In this way, Nostromo
provides demand flexibility to pave the way for a carbon-free,
resilient power grid, using a safe, clean and financially
beneficial system to building owners, that can be easily
retrofitted to any existing C&I facility with chilled water
cooling systems. To learn more about Nostromo, visit
www.nostromo.energy.
Media Contacts:
GKPR for Nostromo Energy
Ariel Shapiro
ariel@gkpr.com
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SOURCE Nostromo