VRB Power gets significant order…
It’s quite likely Vancouver-based VRB Power’s stock will have a nice rise Wednesday morning. The company announced after the close of markets Tuesday that it had sold 80 units of its 5-kilowatt energy storage system to Magnetek’s Telecom Power Group, which will resell the units to a number of telecom operators in the United States. VRB also said it plans to sell another 50 units directly to market.
This is significant for a number of reasons. One, it’s the first big commercial sale that VRB has had. Two, it seems to be confined to 2006 and hints at a more impressive order book in 2007 and beyond. Three, this announcement puts 2006 orders ahead of some analysts expectations. Finally, there’s no question that VRB’s flow battery product is superior to lead-acid battery systems used by the telecom industry for back-up power. Once this initial product gets into the hands of telecom customers, the superior nature of the product will be further proven and momentum will build from there.
UPDATE: As expected, a 20 per cent pop in the shares of VRB Power this morning.
Tyler Hamilton is editor-in-chief of Corporate Knights magazine and a business columnist for the Toronto Star, Canada's largest daily newspaper. In addition to this Clean Break blog, Tyler writes a weekly column of the same name that discusses trends, happenings and innovators in the clean technology and green energy market. This blog is a personal project started in April 2005. It is not an official blog of the newspaper.
