Integrated Storage Technologies (IST), an energy storage technology company out of New York City, has announced the closing of $1.3 million in their seed funding round appointing James P. McDougall as Chairman.

Brooklyn, NY -- (ReleaseWire) -- 07/16/2019 -- The Brooklyn headquartered company is known for its expertise in diverse energy storage & controls applications with a core focus of Front-of-the-Meter & commercial and industrial energy storage projects. IST can, for instance, help a building owner save money on their demand charges, or work with developers or utilities to design and manage the delivery of MW- scale energy storage power to relieve congestion on power lines, especially on hot summer months.

The round was led by seed and early-stage investor Richard Klein, who specializes in investing with alternative energy technology and service companies. He successfully guided start-up companies on advancing their technologies, identifying markets, and managing their growth. Richard is a seasoned early stage investor with numerous prominent successfully exits in the clean technology space.

Richard's investment was followed by James P. McDougall, an energy storage veteran, CEO, angel investor, venture capitalist and startup professional with global experience in building high performing teams. James was previously the CEO of Younicos, a company similar to IST which he turned around and sold in a very successful transaction. Mr. McDougall's partners at Virtual Power Solutions (www.vps.energy) in Coimbra, Portugal and angel investor Ulrich Mueller-Menrad from Munich, Germany accompanied him in the funding round. James has raised over $300 million in venture capital and private equity for start-ups and SMEs in the renewable energy and energy storage related sector.

Additionally, principals at a 4 billion-dollar hedge fund based in New York City, and Agilitas Energy, a renewable energy project developer and asset operator out of Wakefield, MA, both rounded out the fundraising cycle.

"With the support of our strategic investors, we are accelerating the development of our technology and scaling our business to ensure IST becomes a front runner in the New York's fast developing energy storage industry," notes Cory Mourer, founder, and CEO of IST. "The demand for energy storage in the area is increasing tremendously and we are looking forward to expanding to new markets soon."

For more information, please visit IST's website at http://www.integratedstoragetech.com.

About Integrated Storage Technologies – Integrated Storage Technologies has projects deployed in both New York and California, with over 300MWh's of projects in various development.

About Virtual Power Solutions - Virtual Power Solutions is an innovative, market leader in the design and operation of dynamic connected platforms, providing real-time granular data to consumers, network operators and utilities.

About Agilitas
Agilitas Energy is a leading commercial developer and operator of distributed solar and utility-scale battery storage resources in the Northeast. The Company's team of professionals take projects from inception through construction to operations.

Contact:
Steven Berrebi
212-603-9357
steven@integagratedstoragetech.com

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Ossining, NY -- (ReleaseWire) -- 06/04/2019 -- Integrated Storage Technologies recently installed and commissioned a 30kW / 64kWh battery energy storage system in Ossining, NY. This project is the closest indoor commercial lithium-ion installation to New York City. Because of limitations in the local grid, this battery system allows the PV system to produce more energy when the sun is bright and high.

Solar and energy storage systems save money for building owners and serve as terrific examples of how clean, renewable energy can provide resiliency to help our community during blackouts or extreme weather conditions.

"We take buildings that are considered smart, and make them genius. Our proprietary controls monitor electricity costs and usage and make decisions when to charge and discharge the batteries, maximizing energy savings for our customers. In some cases, we can save customers 50% or more on their monthly peak demand charges," said CEO Cory Mourer. "We can string up batteries in our energy storage systems to power just about any building in New York City for hours, and in some cases a day or more. There's an option to back-up critical loads, dedicated outlets, an elevator shaft, and emergency lights in case of blackouts. We're quickly moving into the future with our technology."

The project supports Governor Cuomo's initiative to meet an energy storage target of 1,500 megawatts in New York State by 2025. With the closing of the Indian Point Nuclear facility, which currently services 25% of NYC's electricity demand, systems like this are going to be increasingly important to the stability and health of the electricity sector in the New York City area.

"In many cases, we charge the batteries at night, and discharge during the day. This may sound simple, however the technology, algorithms, and machine learning processes that goes into our systems are very complicated," notes Mourer. "Our Chief Technology Officer Dr. Michael Herman received his Doctorate in Engineering in Chemical Engineering from Tulane University and has an extensive background in the energy industry. No small detail is overlooked."

IST's energy storage system uses data drawn from the building, and matches it with many variables when sizing and engineering the controls for each project they install. "We've built a proprietary analytical tool which analyzes a building's electricity usage over several months to a year. Through our analysis, we can determine system size, system savings, and project requirements immediately. Currently we will run analysis on any medium to large commercial, industrial, or high-rise residential building at no cost to prospective customers."

Energy storage is also playing a vital role in the reduction of pollution from natural gas peaker plants located throughout New York City during demand surges. (Read more here about the use of batteries replacing peaker plants in New York City)

The more energy that can be released from batteries charged at night, the less power plants must ramp up to meet daily demand. This ramp up time contributes to enormous pollution, wasted labor, and wasted resources.

"New Yorkers know all too well the devastating impact of climate change, and we have taken bold action to slow its effects and invest in the energies of tomorrow," Governor Cuomo states during his announcement of a similar installation which was published on NY.GOV. It is the Governor's goal to reduce greenhouse gas emissions 40% by 2030,

About Integrated Storage Technologies
Integrated Storage Technologies is an energy storage technology company based out of New York City with projects deployed in both New York and California and many more in development. For more information, please visit us at www.integratedstoragetech.com.

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