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CellCube Energy Storage Systems Inc.’s CEO talks with Uptick Newswire’s Stock Day Podcast About Applications of Their Technology and Untapped Dimensions of the Company
CellCube Energy Storage Systems Inc.’s CEO talks with Uptick Newswire’s Stock Day Podcast About Applications of Their Technology and Untapped Dimensions of the Company.
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[{"type":"text","content":"\nPHOENIX, Oct. 24, 2018 (GLOBE NEWSWIRE) -- CellCube Energy Storage Systems Inc. (CSE: CUBE) (OTCQB: CECBF) (Frankfurt: 01X) (“CellCube” or the “Company”) is focused on the fast-growing energy storage industry which is driven by the large increase in demand for renewable energy. CEO, Mike Neylan, joined Stock Day’s Everett Jolly to talk about the energy storage market.\n Jolly asked Neylan what makes CellCube different from other energy storage companies out there. He said their unique flow battery system sets them apart in the market. “Our energy storage system is based on our vanadium redox flow battery technology,” he said. “Compared to other flow battery systems, we have a proven technology because of our ten year track record already with 130 installations in 24 different countries.” He went on to say that track record and the proven nature of the technology is only one part of what makes them unique, “In comparison to lithium, what we are talking about is long duration capacity. They simply last longer, with a 4, 6 and 8-hour duration in the kind of energy storage charge and discharge capacity in what they can provide. That’s something Lithium just can’t do.” Neylan added that there is no degradation with vanadium in comparison to lithium, as well. He said that the flow battery vanadium technology is as good on day one as it will be twenty years later. Jolly then brought up a project in Southern Sweden. Neylan explained that it is a community microgrid project. He said the majority of the total energy supply for about 150 houses will be provided by solar and wind. “What we were able to contribute to that project was the large storage capacity. That means the energy storage will act as a buffer against the intermittent use of solar and wind, allowing the entire community to rely upon 100 percent renewable energy because they can use the energy storage.” Jolly then asked about a recent private placement of $4 million; he wanted to know what that money would be put towards. Neylan explained the private placement is still open for accredited investors and that CellCube is looking to close it shortly. “In terms of the use of proceeds, we need to do a couple of things. First of all, we need some working capital just to bridge th...