Analysis Shows How Cadenza Innovation’s Demonstration Project Can Serve as a Model for Grid Operators and Building/Site Owners Interested in Safer, Lower-Cost Lithium-ion-Based Energy Storage in Urban Applications

Cadenza Innovation’s superCell-based Battery Energy Storage System Helps Advance Nation’s Largest State-Owned Electric Utility’s Momentum in Pursuing New York’s Aggressive Clean Energy Goals

WHITE PLAINS, N.Y., Feb. 16, 2023 (GLOBE NEWSWIRE) — The New York Power Authority (NYPA) and the New York State Energy Research and Development Authority (NYSERDA) today announced that a first-of-its-kind battery energy storage system (BESS) using patented, high-safety, lithium-ion (Li-ion) superCell technology is delivering energy peak shaving capabilities to NYPA’s White Plains offices, as part of a demonstration project. The BESS developed by Cadenza Innovation is enabling NYPA – the largest state public power organization in the nation – to demonstrate a peak energy demand shaving function that reduces the peak electricity load typical of a commercial building. The pilot project will help advance New York State’s nation-leading climate and clean energy goals, including Governor Kathy Hochul’s recently announced plans for a framework for the State to achieve six gigawatts of energy storage by 2030.

“This initial testing phase shows the potential for this type of battery energy storage system to serve as a model for managing energy demands and lowering costs for owners of commercial and industrial buildings,” said New York Power Authority Acting President and CEO Justin E. Driscoll. “The unit is reducing peak loads at the Power Authority’s main offices, smoothing electricity network operations and showing a safety advantage by demonstrating a reduction in the potential of thermal runaway. Our goal is to demonstrate whether this unit will provide energy storage and power quality services on a scale that can meet commercial, industrial and network demands at buildings that are similar to ours.”

Deployed immediately adjacent to NYPA’s White Plains offices and funded in part with a $1 million award through NYSERDA’s Innovation program, the Li-ion BESS was developed by Cadenza Innovation in collaboration with Hitachi Energy to showcase the key role that energy storage can play in enhancing demand management and grid flexibility. The project at NYPA is using the energy storage system to demonstrate a peak shaving function that reduces the peak load typical of a commercial building. The object is for the BESS to serve as a model for integrating low-cost, safe, high-performance renewable energy resources into the grid – especially in urban areas – that can be replicated at other businesses throughout New York State and beyond.

“Under Governor Hochul’s leadership, New York is a strong supporter of innovation that enhances grid flexibility, reliability and resilience, and NYSERDA is pleased to collaborate with its State partners and Cadenza Innovation on this energy storage pilot,” said NYSERDA President and CEO Doreen M. Harris. “This project is a powerful example of how private-public partnerships can advance the latest energy storage technologies to help New York integrate renewables into the grid more efficiently while reducing the need for electricity from fossil-fuel power plants during periods of highest demand.”

“Li-ion batteries ‘power’ our everyday lives, from cell phones and laptops to vehicles and increasingly the grid,” said Cadenza Innovation Founder and CEO Dr. Christina Lampe-Onnerud. “Safety, high performance and cost effectiveness are equally critical requirements, especially when systems are deployed in urban areas or indoors. We’re proving that innovative solutions are here today to help combat climate change by driving the transition from fossil fuels to cleaner sources of energy. We’re thrilled to be collaborating with NYPA and NYSERDA, reaffirming our commitment to the state of New York.”

Committed to eliminating the potential risk of thermal propagation which can lead to fires and explosions, Cadenza Innovation’s U.S. Department of Defense-tested and UL Recognized Component, the superCell, features a patented design that helps to bolster utility grid resilience and powers a range of uses in the commercial and industrial market and other key sectors. Notably, by packaging components to lower costs and increase safety, the superCell is designed to reduce the need for additional, high-cost fire safety protection and mitigation systems – resulting in improved energy density and supporting the advancement of the Li-ion battery industry.

The BESS at NYPA – which won an Innovation Icon award at the 2022 Digital + Cloud Summit – is furthering New York’s clean energy agenda, which includes the nation’s most ambitious climate protection legislation and​ one of the largest energy storage target​s. Under the Climate Leadership and Community Protection Act (CLCPA or the Climate Act), New York State is mandated to achieve 70 percent renewable energy by 2030 and 100 percent zero-emission electricity by 2040. Governor Hochul recently proposed expanding New York State’s energy storage programs to double the goal to 6 gigawatts by 2030, which represents at least 20 percent of the state’s peak electricity load.

The BESS can supply building power at desired demand times and includes the ability to function in a peak shaving mode. This can achieve cost reductions for building/site owners, primarily by arbitrage, storing lower cost energy absorbed at time periods of lower power demand and delivering that energy at time periods of higher cost due to higher power demand, and by peak shaving, reducing a building/site maximum power demand and therefore reducing the associated utility peak demand charge.

NYPA and Cadenza Innovation will continue to monitor and evaluate the system’s performance over the next 12 months.

BloombergNEF (BNEF) has forecasted the global energy storage market will increase 15-fold by 2030 and “expects batteries to dominate the market at least until the 2030s, in large part due to their price competitiveness, established supply chain and significant track record.” Li-ion battery technology is a leading choice for new projects globally according to Guidehouse Insights.

About NYPA
New York Power Authority (NYPA) is the largest state public power organization in the nation, operating 16 generating facilities and more than 1,400 circuit-miles of transmission lines. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit www.nypa.gov or follow us on Twitter, Facebook, Instagram, Tumblr and LinkedIn.

About NYSERDA
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. NYSERDA professionals work to protect the environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York State since 1975. To learn more about NYSERDA’s programs and funding opportunities, visit nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, or Instagram.

About Cadenza Innovation, Inc.
Cadenza Innovation is transforming energy storage for grid, EV, commercial and industrial (C&I) and urban battery deployments. Certified to meet the world’s most stringent fire safety regulations and lithium chemistry agnostic, the company’s patented, award-winning battery architecture eliminates the thermal propagation causing fires and explosions in legacy Li-ion-based energy storage systems while delivering high performance at lower costs. Founded in 2012 by battery experts with more than 125 patents, the founding team has held key roles at lithium-ion battery cell, pack and system provider Boston-Power, investment firm Bridgewater Associates, consulting firm Arthur D. Little and other globally respected organizations. Cadenza Innovation is funded by the U.S. Department of Energy, Golden Seeds, the states of New York, Connecticut and Massachusetts, Rockwell Automation and private investors. The company’s corporate headquarters and advanced technology development labs are based in Connecticut. For more information, visit www.cadenzainnovation.com.

All product and company names herein may be trademarks of their respective owners.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f43de299-a74a-435d-b346-99bd7406b957

Contacts:
Lynne Smith
New York Power Authority
lynne.smith@nypa.gov

Theresa Smolen
NYSERDA
Theresa.smolen@nyserda.ny.gov

Bryan Grillo
Cricket PR for Cadenza Innovation
bryan@chrisbryanpr.com