COMPANY BUILDS MOMENTUM AS IT POSITIONS FOR ACCELERATED GROWTH IN 2020

HOUSTON (GLOBE NEWS WIRE) – Viking Cold Solutions, the leading thermal energy storage provider for low-temperature cold storage industries, announced a record-setting year for the company in 2019, highlighted by several notable accomplishments that set the stage for continued strong growth in 2020.

Viking Cold’s 2019 revenue was more than six times greater than 2018 revenue, reflecting over 19,000 kWh of energy storage capacity deployed across 14 projects, saving energy and protecting food while also offsetting 13.4 metric tons of carbon emissions each year. The company’s market growth continues to increase as its total sales pipeline grew to more than $40 million during the year.

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Power Magazine‘s Darrell Proctor interviewed CEO James Bell after Viking Cold was awarded the Cleanie Platinum Project of the Year Award. James discusses the award-winning project with Massachusetts utility Eversource as well as other benefits beyond storing energy for time-of-use avoidance. He covers how long-duration Thermal Energy Storage also provides reduced mechanical run-time and wear and tear, sustainability improvements, and resiliency for food during extreme weather events or other power outages.

Viking Cold is delighted to have been recognised as a winner at the 2019 EI Awards, which showcase excellence across the energy sector.

The Viking Cold Thermal Energy Storage (TES) system won in the Innovative Technology category at the prestigious event, which is organised by the Energy Institute.

Viking Cold was presented with the award at a gala dinner held at the Sheraton Grand Park Lane Hotel in London’s Mayfair on November 7, hosted by Dr Anne-Marie Imafidon MBE, co-founder of Stemettes.

The award acknowledged how TES is helping companies across the world introduce efficiencies and reduce costs in energy-intensive cold chain environments.

Winners are decided by an independent panel of senior energy experts, led by chairman of the judges Stephen Burgin FEI, director of Offshore Wind Growth Partnership.

The panel said of Viking Cold: “Incentivized by energy utilities across the U.S and in use around the world, the company delivers cost-effective and flexible thermal energy management solutions which preserve food, save energy and help reduce environmental impact.”

For two decades, the EI Awards have celebrated “the most outstanding people, products and initiatives from across the global energy sector”. In particular, it recognises those making the industry safer, cleaner and more sustainable, and champions new initiatives that can impact positively on society.

To learn more about what Viking Cold’s award-winning Thermal Energy Storage technology can do for your business, please get in touch.

The annual Energy Storage North America Innovation Awards recognize excellence and impact in energy storage project development. Our Eversource Demand Management Project that installed 1.3 MW of behind-the-meter storage was a finalist in the Behind-the-Meter category in 2019.

Viking Cold is honored to be the Platinum Winner of The Cleanie Awards Project of the Year for our storage and demand management project with Massachusetts utility Eversource. The awards program recognizes innovation excellence, business leadership, and superior programs within the cleantech and renewable energy sectors. The project involved the installation and commissioning of TES systems to store refrigeration energy and facilitate 1.3 MW of energy demand reduction across eight customer facilities, without requiring any additional real estate for the system components. The average size of the cold storage facilities in the program is approximately 50,000 square feet, with the largest being 157,000 square feet. The end-user customers of the program included Sysco (the world’s largest foodservice distributor), Americold (the world’s largest third-party cold storage company), Greater Boston Food Bank, and multiple frozen food processing companies.

Viking Cold was awarded the Peak Load Management Alliance’s (PLMA) Technology Pioneer Award for utilizing our long-duration Thermal Energy Storage technology as a grid asset. The PLMA invited our VP of Sales & Marketing, Collin Coker, to discuss our TES technology and how we are implementing systems across the country and around the world bringing flexible energy storage plus efficiency benefits to our customers and utilities alike.  You can watch the PLMA webinar here.

Sam Spencer of Smart Grid Today interviews Viking Cold Solutions’ CEO James Bell to discuss our Thermal Energy Storage technology and how this long-duration storage medium can improve grid resiliency by storing and discharging for up to 13 hours, adding efficiency to commercial and industrial refrigeration systems, and providing thermal resiliency for our customers in temperature-controlled environments during mechanical breakdowns or power outages due to natural disasters or grid outages.

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Our growing need for more power, shifting patterns of demand, and the rapid expansion of variable renewable generation is presenting challenges to the grid. Energy storage is certainly part of the solution, but is the market or regulation driving the development of storage? How is long duration storage being advanced to better address these needs?  Are there long duration energy storage solutions today that are economical to broadly deploy? Get some answers in this Utility Dive article that discusses the drivers and economics of long duration energy storage.

Accelerate Magazine, a publication focused on advancing HVAC&R sustainability, has featured Viking Cold’s Thermal Energy Storage (TES) technology. The article covers the sustainability benefits of TES, a recent utility-backed demand management project, and a customer installation case study.

Viking Cold Solutions is pleased to have been named a finalist for the 2019 Energy Storage North America Innovation Awards! The ESNA Innovation Awards recognize excellence and impact in energy storage project development.

Viking Cold has been recognized for its deployment of eight Thermal Energy Storage (TES) systems as part of a utility-backed demand management program in Massachusetts. These behind-the-meter TES systems store and facilitate the management of approximately 1.3 MW of energy onsite. This project is noteworthy because Viking Cold’s solution leverages the facilities’ existing refrigeration systems to store cold energy and discharge it over long periods of time (up to 13 hours) when it is most beneficial for the grid and the facility operator, thus lowering energy costs, increasing resiliency, and helping the environment.

The Greater Boston Food Bank, the program’s first installation, has already seen a 75% reduction in energy consumption and a 76% reduction in demand during its four-hour peak demand period.

“As the largest hunger relief organization in New England, our goal is to provide healthy meals to those in need across Eastern Massachusetts,” said The Greater Boston Food Bank SVP of Supply Chain and Food Acquisition, Cheryl Schondek. “We strive for cost-saving operational efficiencies, and our partnership with Eversource and the installation of the Viking Cold TES system better enables us to achieve this goal. We appreciate their commitment to our mission to end hunger here.”

You can read more about the TES project online here.

Please help Viking Cold win this year’s ESNA Innovation Award – you can vote with the form online here. Deadline is September 12, 2019.