The deal will help both fund the commercial deployment of the company’s OnDemand energy storage systems and expand its distribution into new markets.
Mark Vogt, President and CEO of Wright-Hennepin, who was recently elected to the Silent Power board of directors, explains, “As a customer and distribution partner, we think Silent Power has put together a great and flexible solution for an application that’s poised for significant growth. Intelligent, distributed energy storage is a critical and scalable asset class that will help our industry manage the increasing penetration of renewable energy, as well as improve the quality and reliability of power we provide our customers. Locally, we believe Silent Power’s products will provide Wright-Hennepin’s members with superior options as they consider renewable energy investments for their homes and businesses.”
Silent Power CEO Todd Headlee says the company enthusiastically welcomes Mark Vogt to the board. “His expertise and industry insight will be essential as we expand our presence in the cooperatively owned utility markets around the nation and commercialize our energy storage technologies. We are honored to have the support of customers, fellow smart-grid innovators, and others involved in the financing. Our energy storage solutions are proven technologies that can help utilities rely on cleaner sources of energy and help homeowners seamlessly integrate renewable energy into their lives.”
About Silent Power
Based in Baxter, Minn., Silent Power specializes in providing turn-key storage solutions for the integration of renewable energy and electric vehicle charging systems into utilities’ distribution systems and on customer premises. For more information, visit www.silentpwr.com.