Ice Energy, the leading provider of permanent load shifting Ice Storage Air Conditioning (ISAC) systems, today announced that the company is a recipient of Red Herring 100 Spring, an award given by Red Herring to the top 100 private technology companies based in North America.
On any given day, air conditioning (AC) accounts for one-third of the total electricity demand on the nation's strained power grid, and on hot days causes blackouts and puts less efficient, more polluting power generation into use. Ice Energy directly addresses that problem with its Ice Bear unit, a turnkey module that uses off-peak electricity to make and store ice at night when electricity is cleaner and less expensive. During the day, the system uses the stored ice rather than mid-day electrical power to chill the AC refrigerant. Efficiently shifting over 90 percent of AC electricity consumption, the system is able to provide immediate and efficient cooling for commercial and municipal buildings through the hottest hours of the day.
"This honor from Red Herring is testament to the innovative and consequential nature of Ice Energy's technology," said Frank Ramirez, CEO of Ice Energy. "With summer strain already compromising our nation's grid and demand continuing to grow three to five times base load, there is no question that the peak demand problem is pervasive. We look forward to making good on Red Herring's commendation as Ice Energy continues to work with utilities, customers and partners across the country to combat peak electricity demand, reduce carbon dioxide and other polluting emissions, and maintain the cool comfort of our buildings."
About Ice Energy, Inc.
Ice Energy(R) is an energy technology company focused on energy storage and advanced cooling and refrigeration products and technologies. The company manufactures and markets a new Ice Storage Air Conditioner (ISAC) product line for residential and commercial applications that addresses the increasing demand for electricity. Ice Energy's products shift the largest component of residential and commercial peak demand -- air conditioning -- from expensive "on-peak" times of the day to "off-peak" periods, when energy is less expensive and less polluting. Recently approved as an optional compliance measure for California's Title 24 building energy efficiency standards, the Ice Bear(R) system provides superior cooling comfort while significantly reducing the cost of energy. For more information visit http://www.ice-energy.com/ or call 877-5-ICEBEAR.