Business

Alevo signs energy storage agreement

By Bruce Henderson

bhenderson@charlotteobserver.com
A large battery module was unveiled during Alevo's presentation. Swiss battery maker Alevo, said Tuesday it expects to hire about 500 workers by the end of 2015 at its new manufacturing base in the old Philip Morris cigarette plant in Concord.
A large battery module was unveiled during Alevo's presentation. Swiss battery maker Alevo, said Tuesday it expects to hire about 500 workers by the end of 2015 at its new manufacturing base in the old Philip Morris cigarette plant in Concord. T. Ortega Gaines ogaines@charlotteobserver.com

Concord’s Alevo Group has signed a joint agreement to supply 200 megawatts of its GridBank product to wholesale energy markets.

Alevo said the agreement with Customized Energy Solutions is the largest energy-storage deployment in the U.S.

CES’ corporate headquarters are in Philadelphia. The company works with regional transmission organizations, which move electricity over large, multistate areas, to serve more than 350 customers.

Alevo, which opened its global manufacturing hub in Concord in October, markets a new battery chemistry aimed at maintaining steady frequencies, smoothing out demand peaks and storing renewable energy.

Henderson: 704-358-5051;

Twitter: @bhender

This story was originally published February 17, 2015 at 12:59 PM with the headline "Alevo signs energy storage agreement."

Get unlimited digital access
#ReadLocal

Try 1 month for $1

CLAIM OFFER