LITTLE FALLS, N.J., Aug. 24, 2009 (GLOBE NEWSWIRE) -- mPhase Technologies, Inc. (OTCBB:XDSL) participated on the Thought Leadership Panel at the Smart Grid Implementation Summit last Wednesday, August 19 along with General Electric, Intel, and Deloitte. The discussion highlighted key developments in energy storage technology and the importance of batteries in smart grid architecture. mPhase described its Smart NanoBattery and applications that could enhance the way smart grids function.
The Thought Leadership Panel on Smart Grid Technology was led by Deloitte with GE and Intel discussing hardware requirements and communication needs and capabilities for smart grids, while mPhase talked about energy storage solutions, focusing on batteries. In its current form, the Smart NanoBattery could provide always ready emergency backup power to electrical devices employed in the smart grid, such as sensors and actuators.
Three elements of batteries were discussed in relation to smart grid architecture: demand response, distributed energy, and reserve power. The mPhase Smart NanoBattery may have an opportunity to make a significant impact with reserve power. In the event of a power grid going down or becoming disabled, battery power is required to ensure that mission critical operations, such as hospitals, data centers, security systems, etc, continue to operate without interruption. Reliability over extended periods of time is of the utmost importance in these situations. With a potentially infinite shelf life and the ability to program usage life, the Smart NanoBattery can help improve smart grid security, interoperability and networking.
Said mPhase CEO Ron Durando, "The Smart Grid Implementation Summit was a success in that we were able to present our technology to key leaders involved in smart grid design and standardization. I think we showed that mPhase and the Smart NanoBattery present a real value to emerging smart grids and the large corporations that will be leading the way."
According to a new report from industry analyst firm NanoMarkets, the demand for battery and supercapacitor storage systems for smart grid applications will grow from U.S. $1.5 billion in 2012 to $8.3 billion in 2016. Their report "Batteries and Ultra-Capacitors for the Smart Power Grid: Market Opportunities 2009-2016," quantifies the opportunities for electrical storage under the emerging "smart grid applications" business category. In addition, the principal energy storage appropriations included in the American Recovery and Reinvestment Act of 2009 (ARRA) totaled $7.3 billion. These appropriations will be dispersed directly to companies that can directly contribute to the development of smart grid architecture, including advanced lithium ion batteries, and is a direct result of the nation's administration's focus on modernizing the electric grid.
The Smart Grid Implementation Summit took place from August 17-19 and over sixty executives from utilities, technology providers, trade associations, and standards development organizations were in. U.S. Energy Secretary Steven Chu and Commerce Secretary Gary Locke led this year's conference.
About mPhase Technologies, Inc. and AlwaysReady, Inc.
mPhase Technologies, Inc. (OTCBB:XDSL), through its wholly owned subsidiary AlwaysReady, Inc., is focused on developing and commercializing a new battery technology based on a well-patented phenomenon known as electrowetting, which provides a unique way to store energy and manage power that will revolutionize the battery industry. For more information, please visit our website at www.mPhaseTech.com.
The mPhase Technologies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6037
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