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Leclanché (SIX: LECN), Building Complete Energy Storage Systems for Commercial and Industrial Applications with NRStor C&I in Canada

 

YVERDON LES BAINS, Switzerland; DALLAS; and TORONTO - February 8, 2018 (Investorideas.com Newswire) Leclanché SA (SIX: LECN), a leading global and vertically-integrated battery energy storage solution company, has been selected by NRStor C&I, a subsidiary of NRStor Inc., to build a complete battery energy storage system under a turn-key EPC agreement for an Ontario-based industrial company seeking to reduce its energy costs through emissions-free technology.

NRStor C&I, based in Toronto, is the principal investor in this project and will serve as the project owner and operator. It is a leading Canadian energy storage project developer and owner in the commercial, industrial and institutional space. NRStor C&I operates under a build, own and operate structure with a goal of reducing customers' electricity cost via peak demand reduction and optimizing multiple cashflow streams while utilizing a fossil fuel-free technology that helps customers reduce their carbon footprint.

The battery energy storage system (BESS) will have a 2.0 MW output capacity and a lithium ion battery storage system with a duration of at least 2 hours (4.0 MWh) and utilize Leclanché's energy management and fleet management software systems for control and optimization of the asset performance. Leclanche also has preliminary agreements for two other industrial locations with NRStor that will also utilize this standardized product and Leclanché in-house design in its own specific configurations.

"These first C&I storage systems which Leclanché will install in North America represent a further expansion of our stationary business and they represent an important, growing segment of our energy storage offerings in the region," said Anil Srivastava, CEO, Leclanché. "We are very pleased to have NRStor as our partner in this first project as one of Canada's leading energy storage development companies implementing behind the meter solutions for the country's commercial and industrial segments."

The goal of the behind the meter (BTM) energy storage system is to significantly reduce a customer's energy demand during peak periods when energy and demand charges are very high while also providing ancillary services to the grid and allowing customers to optimize the usage of onsite emission-free renewable energy. Leclanché's C&I energy storage systems are also designed to integrate multiple on-site electric vehicle (EV) charging stations to meet the rapid expansion of fast charge electric vehicles.

In addition to the C&I energy storage project announced today, Leclanché has several major storage initiatives underway in both Canada and the U.S. The company is nearing completion of an advanced battery storage project in Ontario, Canada, known as the Basin Project. The high-quality project, built and owned by Leclanché and development partner Deltro Energy, is the first utility-scale energy storage facility designed to balance the Ontario power grid, with a total investment of approximately USD $25 million.

Leclanché has installed other C&I energy storage systems in Europe and Asia and will present a fully-integrated C&I product line in the second quarter of 2018 for both large- and mid-scale customers which provides a combination of smart standardized in-house design and flexibility for multiple battery technologies and application differences. With these products, Leclanché will also integrate innovative EV fast-charging technology as it foresees the convergence of electrification in the transportation sector and advanced distributed power applications.

In July 2017, Leclanché announced an agreement between Toronto-based eCAMION to develop and install a network of 34 fast-charging stations along the Trans-Canada Highway (TCH). The project, designed to encourage the adoption of EVs in Canada, entails an investment of CAD $17.3 million (USD $13.6 million) and is being partially funded by a CAD $8.0 million (USD $6.2 million) repayable contribution from Natural Resources Canada (NRCan) under the Canadian Energy Innovation Program.

In addition, Leclanché is currently serving as the turn-key engineering, procurement and construction (EPC) contractor and battery energy storage system supplier for the Marengo project in the PJM Market in the United States. This is a 20 MW / 20 MWh grid-scale energy storage project which is among the largest, fully-commercial battery storage projects in North America. The Chicago-area project is being developed for the PJM Interconnection, the regional independent system operator of the transmission grid.

About Leclanché

Leclanché is one of the world's leading fully vertically integrated energy storage solution providers. It delivers a wide range of energy storage solutions for homes, small offices, large industries, electricity grids, as well as hybridization for mass transport systems such as bus fleets and ferries. Established in 1909, Leclanché has been a trusted provider of battery energy storage solutions for over 100 years. Founded in the tradition of Georges Leclanché, the inventor of the dry cell battery, Leclanché today has a rich portfolio of Battery Energy Storage Systems (BESS) that include bespoke battery systems from industry leading lithium-ion solutions. Leclanché is listed on the Swiss stock exchange, and is the only listed pure-play energy storage company in the world.

SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9

For more information, visit: www.leclanche.com.

About NRStor C&I

NRStor C&I L.P., a subsidiary of NRStor Inc., is a turn-key BTM energy storage solution provider for commercial, industrial and institutional customers. NRStor C&I provides energy storage as a service under a turn-key build, own, and operate business model where no-capital outlay is required from the customer. For more information, visit: www.nrstor.com

Disclaimer

This press release contains certain forward-looking statements relating to Leclanché's business, which can be identified by terminology such as "strategic", "proposes", "to introduce", "will", "planned", "expected", "commitment", "expects", "set", "preparing", "plans", "estimates", "aims", "would", "potential", "awaiting", "estimated", "proposal", or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché's production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Leclanché or any of its business units.

You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Leclanché's products will achieve any revenue levels. Nor can there be any guarantee that Leclanché, or any of the business units, will achieve any particular financial results.


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