Primus Power (“Primus”), a leader in stationary energy storage systems, announced today that it has received orders to install flow battery systems at multiple life science buildings owned by HCP, Inc (“HCP”) (NYSE:HCP), a fully integrated real estate investment trust that invests primarily in real estate serving the healthcare industry in the United States.
Primus EnergyPods are long duration flow batteries that generate savings by storing electricity from the grid during times of low price and demand, and releasing it back at times of high price and demand. The release back to the grid reduces the electrical draw from the utility, saving money for commercial building tenants with no impact on operations.
“At HCP, we take pride in delivering best-in-class facilities for customers,” said Tom Klaritch, HCP’s Executive Vice President and Chief Operating Officer. “Sustainable building operations that incorporate renewable energy, integrated and efficient subsystems and now, stationary battery systems like those from Primus, provide savings that benefit all of our stakeholders, in addition to supporting our corporate sustainability initiatives.”
“We are delighted to work with HCP and help their tenants save money,” remarks Tom Stepien, Primus Power’s CEO. “Commercial customers pay premiums for peak electricity, typically in late afternoons. A long duration battery system, like our 5 hour EnergyPod, better guarantees savings compared to short duration systems that have insufficient energy to catch extended peaks. Additionally, our two decade fade-free performance results in significant lifecycle savings over Li Ion batteries which tend to fade 10-15% per year, as we commonly experience in our cell phones and laptops. Commercial buildings need the Duration without Degradation™ that Primus provides.”
