Lee’s Summit, Missouri (United States) – October 24, 2016 – Exergonix, Inc., a developer of proprietary energy storage technology and a manufacturer of scalable distributed energy storage systems that supports a smarter, cleaner, and more resilient electrical grid, today announced that it has reached an exclusive partnership with Global Power CY Ltd. through its direct sales arm, PowerOnNetwork (www.powerONnetwork.com)
Exergonix’s partnership with Global Power creates an international direct sales company that will promote a unique energy architecture behind its proprietary XeCoin (Xchange Energy Coin) concept. Through PowerOnNetwork the company has created the first tradable energy based cryptocurrency with the XeCoin, allowing for a platform where energy can be mined, stored and traded in digitized, transferrable credits. As energy storage systems are charging and discharging within installed micro-grids around the world, they will track and capture the accumulated value from the sale of the energy, providing this new digital currency with an intrinsic value.
In addition to its existing energy storage business, Exergonix recently acquired the assets of CODA Energy, LLC in California with more than 12 years of experience and a very deep intellectual property portfolio in managing stored energy in the automotive and utility market. By integrating the CODA product portfolio of energy storage products into the existing Exergonix portfolio, the company can now produce behind-themeter systems of all sizes – ranging from a few kilowatt-hours to multiple megawatt hours. The company is also launching the Verd2GO product line of portable, sharable storage modules for vehicles and buildings as a strategic deployment with the PowerOnNetwork.
The Exergonix-Global Power partnership will allow customers to store energy for a rainy day while profiting from their investment. In the same way gold is put on reserve; stored energy now can be traded and sold in a monetized and incentivized manner. The PowerOnNetwork will provide the opportunity for investors to trade stored energy directly at their fingertip using the Verd2GO app which was developed for just this purpose and will be tied directly to the XeCoin that is tradable within the network.
Exergonix, headquartered in Lees Summit, Missouri, manufactures energy storage systems that can provide power for use in homes, office buildings, and utility installations. Exergonix President & CEO, Don Nissanka, explained this synergistic partnership as “a new paradigm in the democratization of energy, giving consumers real-time ability to track the value gained in using energy storage systems.” Nissanka added, “the world needs a platform where every household, business and community is able to see their energy costs at their fingertips, and manage them on demand. The combination of the Verd2GO app with the XeCoin not only allows a user to monitor usage profiles and create an ongoing revenue steam, but also allows them to track the reduction in carbon emissions and the amount of energy that is wasted today because there is no ability to store it. This is a major breakthrough, creating a hands-on interactive solution to capture and monetize all the inefficiencies in the electrical grid
Sunny Sanwar, the founder and inventor of Verd2GO elaborated, “Verd2GO was created to usher in a standardized network to monetize clean energy use through modularized units. Our app allows users to track energy production and consumption in real-time, allowing for on-demand use; whether it be collecting, storing, sharing or using the energy to power homes, offices, cars or other electrical devices. Through today’s emerging blockchain and internet of everything-technology categories, Verd2GO allows consumers to connect with the infrastructure and energy uses of tomorrow”
Exergonix, has developed its product line with the aim of supporting the overall energy reliability equation and helping to stabilize power delivery infrastructure. The company has reliably delivered energy projects geared for commercial or utility-scale applications and has participated in strategic partnerships to win utility grid-level projects. The partnership with Global Power and the launch of the PowerOnNetwork is expected to bring an added advantage in bringing electricity storage to the consumer market, extending the product distribution to residential and consumer applications globally. Additionally, Exergonix’s partnership with solar developer Neighborhood Power Corporation will broaden the portfolio of solutions promoted by the PowerOnNetwork – allowing the company to deploy micro-utility solutions around the world using the proven power purchase agreement model Neighborhood Power has implemented in the US.
Global Power’s President, Arve Evensen, commented that, The team behind the XeCoin is bringing years of experience in building successful direct to consumer marketing initiatives globally. With a proven history of creating affiliate models and memberships of millions of potential customers, this partnership will strive to yield positive return on a commodity that everyone uses today. The synergy is exceptional and by combining the track record of the two companies, we open up a world of opportunities in the democratized energy market.
Exergonix is dedicated to the mission of providing clean, renewable energy solutions cost-effectively. Its proprietary technology has been deployed in energy, environmental and renewable projects around the world since its founding in 2010 and is accepted by leading utilities and regulatory authorities who are breaking ground in the application of storage technologies to maximize grid capacity and penetration of renewables. Having put its technology through years of rigorous testing and certification in utility-scale applications, Exergonix is commencing the commercial roll-out of storage solutions for both large and small-scale applications.
About Global Power CY Ltd:
Global Power CY Ltd. is an international company dedicated to developing unique marketing strategies around a direct-to-the-customer sales process using its network of internet based customers. The Global Power partnership with Exergonix, delivers ground-breaking renewable micro-grid solutions by employing proven direct selling models, achieving significant market penetration, not only in the developed world that has energy infrastructure but also in developing countries where access to energy via a national grid is oftentimes out of the question. The partnership facilitates for the first time the true democratization of energy, both by investing directly in energy storage and by creating a new paradigm in energy production, storage, distribution and consumption using the PowerOnNetwork and the XeCoin.