-- ViZn has exhibited impressive tenacity in designing a first-of-its-kind solution in the energy storage market and breaking the stranglehold of acid-based flow batteries
MOUNTAIN VIEW, California, Sept. 4, 2014 /PRNewswire/ -- Based on its recent analysis of the energy storage market, Frost & Sullivan recognizes ViZn Energy with the 2014 North America Frost & Sullivan Entrepreneurial Company of the Year Award. Acknowledging the growing demand for an efficient, safe, and reliable energy storage battery in the renewable energy space, ViZn developed the world's first cost-effective, alkaline-based flow battery. Its patented technology ensures the optimum storage of energy and guarantees a lifespan of more than 20 years. The battery's high scalability to hundreds of megawatts; use of abundantly available non-toxic, nonflammable, and low-cost materials such as zinc and iron; and compliance with environmental regulations places ViZn at the forefront of technological innovation.
ViZn has leveraged years of R&D expertise in designing the Z20 160-kWh Zinc Redox Flow Battery that enables efficient energy storage for the fast-growing micro-grid market. The battery has been designed with a water-based, two-phase flow system that consists of a zinc electrode and an iron redox counter electrode. This advanced electrode pair design aids steady and safe operation, thereby lowering operational risks.
ViZn's Z20 is efficient in renewable firming and power regulation. The technology is designed to withstand frequent temperature fluctuations and facilitates multiple discharge cycles per day, enabling the micro-grid to satisfy energy requirements during peak demands in the mornings and evenings. It claims an ability to supply 10,000 cycles throughout its lifespan.
"Impressively, the Z20 has a distinct capability to de-energize the battery in as fast as 15 seconds in the event of a disaster," said Frost & Sullivan Research Manager Vishal Sapru. "Additionally, the innovative battery stack design has been able to overcome shunt issues that have been hindering the smooth operation of flow batteries for years."
Apart from designing innovative solutions, ViZn has demonstrated a keen desire to provide customers with unparalleled service experience, so much so that it treats its customers as partners and provides them with solutions that positively impact their bottom line.
To provide customers with a turnkey experience, each battery cell has an internal feedback loop that is IP addressed. This allows the company's service center personnel and design engineering staff to assist them when troubleshooting, without affecting their smooth operations, and minimizing wait times. This unique capability also makes it possible to forecast the customer's energy requirements.
The Z20's initial cost per kWh is comparatively lower than that offered by other systems. This strategy of developing a product that ensures environmental safety while keeping the price low has given the company a clear advantage in the market.
Furthermore, the company has demonstrated great vision in investing in R&D and outsourcing the manufacturing to experts in the field. This asset-light model cuts down costs while ensuring enhanced product value. ViZn also entered into partnerships with logistic companies to guarantee swift and efficient service.
In addition to providing a reliable solution backed by efficient service, the company is focusing on strong market penetration to increase its customer base. The company is planning to establish footprints in Germany, Hawaii and India to address their growing demand for renewables.
"Recognizing the role played by the Z20 in ensuring ViZn's success in the energy storage domain, the company secured a patent for it to strengthen its market position," noted Sapru. "Its expertise in designing an exciting, all-encompassing, yet low-cost solution while ensuring unparalleled customer experience has set ViZn up for greater growth in the future."
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in devising a strong growth strategy and robustly implementing it. The recipient has shown strength in terms of innovation in products and technologies, leadership in customer value, as well as speed in response to market needs. In short, the award looks at the emerging market players in the industry and recognizes their best practices that are positioned for future growth excellence.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About ViZn Energy Systems
ViZn Energy Systems, Inc., is comprised of a visionary team of scientists, engineers and business leaders that are passionate about creating and commercializing a revolutionary energy storage solution for the micro grid market. Founded in 2009 and based on eight previous years of DOE funded research, ViZn is commercializing energy storage systems for mega-watt applications. The ViZn solution is safe, reliable, cost effective, and scalable to meet the needs of today's ever changing energy landscape.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
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SOURCE Frost & Sullivan