Verde Energy Holds Right to Distribute Ice Bear Technology, Launches Demonstration Project

Verde Energy USA and the City of St. Charles, Illinois announced the launch of a clean energy efficiency partnership and demonstration project.

Verde Energy USA will undertake the partnership through its affiliate, Verde Energy Solutions.

The project, which involves the installation of Ice Energy's "Ice Bear" technology in a municipal building will achieve energy efficiencies, reduce costs, and enhance grid reliability related to air conditioning, the company said. The Ice Bear technology is a smart grid-enabled, distributed energy storage system.

Through a partnership agreement with Ice Energy, Verde holds the right to distribute Ice Bear technology, which has been tested by over 50 investor and publicly-owned utilities throughout North America.

The Ice Bear replaces conventional condensing units, a component of a typical building cooling system. It shifts air conditioning electrical power demand to off-peak hours by using water to make ice at night, when the electric grid is generally unstressed. Then, during the hot summer day, when demand goes up and electric prices may be higher, the melting ice bathes the air conditioner's compressor with cool air so the air conditioning unit uses less energy at a peak demand time to cool the building. The melted water is then recycled through the system when the process begins again the following night.

Thomas FitzGerald, Chief Executive Officer of Verde, said, "We have an excellent track record in Illinois as a retail energy supplier, and this partnership with St. Charles reflects our commitment to extend our energy solutions business throughout Illinois, with additional partnership agreements on state, regional and municipal levels."