TORONTO, May 23, 2019 /PRNewswire/ -- CELLCUBE ENERGY STORAGE SYSTEMS INC. ("CellCube" or the "Company") (CSE: CUBE) (OTCQB: CECBF) (Frankfurt 01X) (WKN: A2JMGP) is very pleased announce they have won the very sought after EES award, category Electrical Energy Storage at the Munich Intersolar/EES event. The award was given for the development of its CellCube FB500-2000, the largest single module flow-battery based energy storage system. The award was judged by an independent industry associated panel.
The new Cell Cube FB500- 2000 offers up to 1,000 volts DC for charging and discharging and is capable of over 20,000 deep discharge cycles which translates to a life span of over 25- 30 years. The system is designed for use in large grid-scale utility applications, collocation with solar parks and wind farms. The panel also was very impressed with the business plan of leasing the Vanadium electrolyte as an independent service which lowers the capital expenditure and price per Kilowatt hour significantly. https://www.cellcube.com/
About CellCube Energy Storage Systems Inc.
CellCube is a Canadian public company listed on the Canadian Securities Exchange (symbol CUBE), the OTCBB (symbol CECBF), and the Frankfurt Exchange (Symbol 01X, WKN A2JMGP) focused on the fast-growing energy storage industry which is driven by the large increase in demand for renewable energy. CellCube supplies vertically integrated energy storage systems to the power industry. Enerox GmbH is the developer and manufacturer of CellCube energy storage systems. CellCube's other related subsidiary is EnerCube Switchgear Systems Inc., a leading-edge provider of custom and off-the-shelf electrical equipment and power control systems
The Company has also invested in an online renewable energy financing platform, Braggawatt Energy Inc.
CellCube develops, manufactures, and markets energy storage systems on the basis of vanadium redox flow technology and has over 136 project installations and a 11 year operational track record. Its highly integrated energy storage system solutions feature 99% residual energy capacity after 11,000 cycles (cycling daily for 28 years) and larger scale containerized modules. Basic building blocks consist of a CellCube unit family with 4, 6 and 8 hours variation in energy capacity.
On behalf of CellCube Energy Storage Systems Inc.,
Stefan Schauss, CEO
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accept responsibility for the adequacy or accuracy of this release.
CellCube Energy Storage Systems Inc.
Ste 10 – 8331 River Road
Richmond, BC V6X 1Y1
393 University Avenue, Suite 1810
Toronto, Ontario M5G 1E6
CSE CUBE 12g3-2(b): 82-2062
SOURCE CellCube Energy Storage Systems Inc.