SYDNEY, October 10, 2013 /PRNewswire/ -- Sydney based Ecoult was today named in the Cleantech Group's prestigious 2013 Global Cleantech 100 as one of the world's top 100 private companies in clean technology from a field of 6,000 nominated global companies.
Ecoult designs and delivers energy storage solutions based on the UltraBattery -- an advanced hybrid ultracapacitor and lead acid battery technology. UltraBattery was invented by Australia's Commonwealth Scientific and Industrial Research Organisation (CSIRO) and outperforms on key performance metrics required for grid-scale renewable energy support.
Ecoult's solutions support integration of growing levels of renewable generation onto grid systems by controlling power ramp rate at the point of generation, or by controlling variability on the grid through the provision of grid ancillary services. In off-grid and hybrid configurations, the UltraBattery can improve system efficiencies and help reduce the use of fossil fuels while simultaneously stabilizing increased penetration of renewable generation.
Global MW-scale installations of Ecoult's technology have already shown UltraBattery to be dependable and highly effective for wind smoothing, solar smoothing, peak shifting, grid support and reserve applications.
An exciting transformative possibility for the UltraBattery is the ability to leverage existing infrastructure to deliver the lowest cost energy storage solution for multiple purposes. UltraBattery can be used for example to deliver renewable smoothing or grid ancillary services, and still have sufficient backup capability to respond immediately to any grid outage or reserve event. This symbiotic storage combination makes efficient use of shared infrastructure while offering compelling economics for investors, owners and regulators concerned about grid stability and/or grid resiliency.
Ecoult's CEO John Wood says Ecoult is humbled to have been recognized in what is a highly innovative and competitive clean technology market. "This recognition is a great honor for Ecoult and for our US parent company, East Penn Manufacturing. We are very fortunate to have an awesome technology to steward and to have assembled a fantastic team to take it forward."
To cap off its green credentials, Ecoult is one of the few companies today truly able to claim leadership in product recyclability and safety.
Global Cleantech 100 list
The Global Cleantech 100 list is unique because it highlights the promise of private clean technology companies from all around the world, focusing on those companies which the players in the market feel are currently the most likely to make the most significant market impact over the next 5-10 years.
The list is derived from Cleantech Group's own data and research, combined with the weighted qualitative judgments of hundreds of nominations, and the viewpoints of a global 90-person Expert Panel. To qualify for the list, companies must be independent, for-profit, cleantech companies that are not listed on any major stock exchange.
"The Global Cleantech 100 is a natural extension of our vision to help corporations and investors connect with innovation around the world," said Sheeraz Haji, CEO of Cleantech Group. "This list celebrates inspiring entrepreneurs, and serves as the industry standard on gauging where innovation is headed across key sectors."
5,864 companies were nominated this year from 60 countries. These companies were weighted and scored to create a short list of 300 companies. Vital information on these short-listed companies -- including key data from Cleantech Group's i3 platform -- was presented to the expert panel for final input. The end result was 100 companies from 18 countries.
The 90-member expert panel was drawn principally from leading financial investors and representatives of multi-national corporations, located in Asia, Europe, and North America. The composition of the expert panel is created to be broadly representative of the global cleantech community, and includes pioneers, leaders, veterans, and new entrants in cleantech. This diversity results in a list of companies that command a broad base of respect and support from many important players within the global cleantech innovation ecosystem.
"The composition of the 2013 Global Cleantech 100 represents a distinct shift in thinking from deal-makers in the marketplace," said Richard Youngman, Cleantech Group's Managing Director, Europe & Asia. "Fifty-one new entrants and noticeable shifts in sub-sectors and company types commanding the broadest level of support speak to a transition of opinion of which types of companies deal-makers believe today are the most likely to have significant market impact in a 5-10 year timeframe."
About Cleantech Group
Cleantech Group helps clients accelerate sustainable innovation. The company's i3 platform allows subscribers to discover companies and explore cleantech trends strategically with proprietary real-time data. Cleantech Forums bring together thought leaders and innovators in the cleantech and sustainability ecosystem. The company's advisory services leverage expertise in designing and executing corporate strategies for sustainable growth and innovation sourcing. Details at www.cleantech.com.
