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CellCube Signs Agreement With Immersa for $6 Million US for Its 4th Generation Energy Storage Systems
CellCube Signs Agreement With Immersa for $6 Million US for Its 4th Generation Energy Storage Systems.
About this update from Saltbae Capital Corp
[{"type":"text","content":"\nTORONTO, June 13, 2019 (GLOBE NEWSWIRE) -- CELLCUBE ENERGY STORAGE SYSTEMS INC. (“CellCube” or the “Company”) (CSE CUBE) (OTCQB CECBF) (Frankfurt 01X, WKN A2JMGP) is pleased to announce that CellCube has signed a Commercial Framework Agreement with Immersa Ltd. which reserves production capacity and installation services for CellCube’s recently released new generation of Vanadium Redox Flow Battery System. The definitive contract was signed on June 12, 2019 and represents a value of $6 million dollars USD expected timing for delivery within 24 months. This contract gives Immersa Ltd. dedicated conditions on price, delivery terms and electrolyte-as-a-service model.\n The increasing market demand for long duration energy storage either standalone or in combination with solar installations has developed a large pipeline of projects in the UK. Immersa Ltd. is in the final contracting stage. “We are delighted to have secured production capacity from CellCube for our large grid MW-project pipeline,” Robert Miles, CEO & Director of Immersa Ltd., says, and adds, “the combination of a best-in-class performance product at predictable price and delivery terms is key for our finance partners and customers. This allows Immersa not only to offer services at an attractive price but to deliver on multiple projects at the same time. The goal for many of our clients is to replace conventional generation and cover grid shortfalls with green energy thereby reducing CO2 emissions significantly and as soon as possible.” “After signing the distributorship agreement at the beginning of the year (see press January 31,19) and working jointly with Immersa and HICC Energy on a large scale storage deployment we made the next important step to get our award-winning CellCube ready for delivery to the UK,” Alexander Schoenfeldt, MD and COO of  CellCube’s subsidiary Enerox, says. “Customers realize the need for clean, safe and environmental friendly energy storage and specifically in the stationary long duration, and when multiple cycles per day are needed. CellCube can offer the most reliable and performing alternative to Lithium.” Stefan Schauss, CEO of CellCube adds, “The market feedback on our new product generation is amazing and I am excited that with our ...