Lockheed Martin and Oriden Team on Flow Battery Technology

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Lockheed Martin and Oriden announce teaming agreement for future energy storage projects.

BETHESDA, Md., Jan. 30, 2020 – Lockheed Martin (NYSE: LMT) and Oriden LLC, a Mitsubishi Hitachi Power Systems venture, announced today a teaming agreement for future energy storage projects using GridStar® Flow, Lockheed Martin’s innovative flow battery technology. This cutting-edge energy storage system is capable of storing six to 12 hours or more of energy and dispatching it as needed.

The companies are partnering to identify and support long-duration energy storage projects, using Oriden’s renewable and energy storage project development expertise and Lockheed Martin’s GridStar® Flow battery, which provides the durability, flexibility and safety necessary for project success.

“We are encouraged by the great synergies between our two companies to bring new flow battery technology to the market,” said Dan Norton, vice president of Lockheed Martin Energy. “This agreement accelerates our efforts to scale GridStar® Flow rapidly and to support our global customers.”

“Oriden believes in the potential of long-duration energy storage, and we are eager to work with Lockheed Martin to find the best opportunities for our customers,” said Matthew Maroon, director of energy storage development at Oriden. “This agreement highlights Oriden’s commitment to deploying new energy storage technologies to meet the technical and economic needs of the marketplace.”

Unlike conventional batteries, GridStar® Flow allows customers to optimally size power (megawatts) and energy (megawatt hours) independently and maintains its energy capacity without degradation throughout project life. These product attributes will be critical as demand grows for large-scale batteries to integrate increasing levels of renewable energy on the grid, for batteries as transmission and distribution assets, and for other applications, including microgrids.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

About Oriden

Located in Pittsburgh, Pennsylvania, Oriden develops, constructs, finances, owns and operates distributed renewable energy technologies throughout the United States. As local governments, public institutions and corporations prioritize cleaner sources for their energy needs, they want a developer with the ingenuity, the agility and the speed of a start-up—a fearless pioneer. But they also want to mitigate risk with a proven veteran that has the financial strength and experience to develop, commercialize, operate and own a highly complex project. Oriden is venture funded and backed by Mitsubishi Hitachi Power Systems, which has more than a century of experience manufacturing, servicing and providing power and energy solutions globally.

Oriden Announces Pittsburgh Office Grand Opening and New Strategic Partnership for Distributed Renewable Deployments

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Development pipeline reaches 300 MW of renewable energy projects

PITTSBURGH – Oriden, a renewable energy solutions developer and a venture of Mitsubishi Hitachi Power Systems Americas, Inc. (MHPS) today announced the opening of its newly renovated office space in Pittsburgh’s North Shore and a strategic partnership with a leading solar PV installer in New York State.

Oriden (www.oridenpower.com) was launched by MHPS earlier in 2019 as the start of a new type of power generation organization and is pursuing end-to-end solutions for renewable energy projects – including development and permitting, construction, financing / ownership, and asset management. The Oriden team of seasoned renewable energy developers, financiers, and operators has grown since its launch and they plan continued hiring for the new Pittsburgh office.

The company just completed the full renovation of an office facility on the banks of Pittsburgh’s bustling North Shore overlooking the iconic Seventh Street (Andy Warhol) Bridge. “Our entire team is excited to work out of this beautiful office facility which will be a key part of attracting new talent to Oriden and the greater Pittsburgh community,” says Masahiro Ogiso, Oriden’s Head of Business Development.

As part of the rapid growth that Oriden is experiencing, the company has also announced a strategic partnership with Buffalo, NY, based Solar Liberty (www.solarliberty.com) to pursue distributed solar generation projects in New York State. Solar Liberty, founded in 2003 by brothers Adam Rizzo and Nathan Rizzo, is one of the largest solar PV developers and installers in New York State and has been recognized by Inc. Magazine as one of the Fastest Growing Private Companies, ranking as high as fifth amongst energy companies. “Adam, Nathan, and the team have done a tremendous job growing Solar Liberty into a leading solar PV installer in New York State,” said Ogiso. “Our partnership with Solar Liberty was designed to complement each other’s strengths, and I am looking forward to a long-term successful future with them.” Adam Rizzo from Solar Liberty stated, “We are very grateful and excited to be working with Oriden on upcoming solar projects. This partnership will foster great opportunities for both companies to achieve our mutual commitment to developing solar projects for the benefit of our customers throughout New York State.”

The partnership has already made tremendous strides over the past several months and is currently working a backlog of over 20 MWs of awarded distributed energy projects. Additionally, the Oriden team has a development pipeline of over 300 MW of renewable energy projects that are expected to come online over the next few years. Ogiso notes, “While proud of the progress we’ve made to date, we’re just scratching the surface. Our team believes in the vast potential of renewable energy and with the strong backing of our investors, partners, and other stakeholders, we look forward to becoming the go-to company for developing and deploying renewable energy solutions.”

“At MHPS, we’re dedicated to providing power generation and storage solutions that create a cleaner and more prosperous world,” said Paul Browning, President and CEO of MHPS Americas. “Our Oriden team will deliver distributed renewable energy solutions that will be a crucial element of our comprehensive strategy to achieve a Change in Power.”

About Oriden

Located in Pittsburgh, PA, Oriden develops, constructs, finances, owns, and operates distributed renewable energy technologies throughout the United States. As local governments, public institutions and corporations prioritize cleaner sources for their energy needs, they want a developer with the ingenuity, the agility and the speed of a startup—a fearless pioneer. But they also want to mitigate risk with a proven veteran with the financial strength and experience to develop, commercialize, operate and own a highly complex project. Oriden is venture funded and backed by Mitsubishi Hitachi Power Systems with over a century-worth of experience manufacturing, servicing, and providing power and energy solutions globally.

Learn more about Oriden at www.oridenpower.com.

Oriden Launched As Pittsburgh’s Newest Renewable Energy Player

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PITTSBURGH, PENNSYLVANIA – (March 27, 2019) Pittsburgh’s newest clean tech start-up just arrived. Oriden launches this week’s New Energy Finance’s “The Future of Energy Summit” and local unveiling at Carnegie Mellon University’s “Energy Week.” Mitsubishi Hitachi Power Systems, a Japanese multinational with global headquarters located in Lake Mary, FL.

Oriden – a play on the English word “origin” and the Japanese word “denki” (電 気) meaning ‘electricity’ – is the start of a new generation of power generation organization. Oriden fulfills multiple roles within the renewable energy space, providing customized solutions for end-user energy customers – including development and permitting, construction, financing / ownership, and asset management of renewable energy projects. The team is focused on distributed renewable energy solutions, with a focus on PV and energy storage systems. This wants to include community solar, behind-the-meter commercial & industrial customers, and distribution-level front-of-the-meter projects.

This week honors innovation and breakthroughs in the energy sector, and MHPS is excited to contribute to our industry. said Paul Browning, President and CEO of MHPS Americas and Carnegie Mellon University alumnus. “In fact, CMU Energy Week 2018 played a pivotal role in our company’s creation of a new business in the region.”

MHPS considers multiple cities in its journey to launch a new business focused on renewable energy solutions. Long-time MPS Employee and Pittsburgh Native, Michael Ducker (Senior Director of New Product Solutions), has found Pittsburgh as a key city and regional market to launch a business search: “Most people do not realize that Pittsburgh is the birthplace of modern American This is the first coal mine in Coal Hill – now known as Mt. Washington, the nation’s first commercial gas at Murrysville, the nation’s first nuclear power plant to be built in Shippingport, and the world’s first oil well in Oil City.

Ultimately, it took a meeting between Ducker and another Pittsburgh native, Masahiro “Mas” Ogiso, at CMU Energy Week 2018 to seal the future for Oriden and its ultimate headquarters in Pittsburgh. Ogiso, head of the new Oriden team, noted “After learning more about MHPS’s vision and motivation to expand into the renewable energy solutions space, I knew this was a unique opportunity to launch a start-up, creating innovative customer solutions in a growing way market opportunity, and all the while leveraging the wealth of experience and stability of our parent company. “This ability to launch this business into my hometown made this opportunity all the more rewarding.”