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Storage Power Solutions
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Provider of efficient, reliable and below-grid cost energy storage solutions, tailored to the utility, commercial & industrial and renewable vertical

Founded in 2014
Founded in

Company type Private Public ()
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Industry Group energy & power

Sector energy storage

TRL Range 9
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
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Headquarters Whitby, ON Whitby, Canada
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Updated by Kerry Lakatos-Hayward at Storage Power Solutions on 12/04/2018

Edited by Cleantech Group on 08/18/2021

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Date Company
10/26/2018

Massachusetts customer Massachusetts customer

Massachusetts 1.5 MW/1.5 MWh energy storage system solar plus storage

Confirmed by Massachusetts customer
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Date Investors Type Amount
Zhejiang Narada Power Source C., Ltd. Exicom Tele-Systems Limited Hyxos Innovations Inc 2443145 Ontario Inc. Zhejiang Narada Power Source C., Ltd. Exicom Tele-Systems Limited Hyxos Innovations Inc 2443145 Ontario Inc. (1)
Post-money valuation of
total raise in 2 rounds $4.5 million USD in 2015 and 2016
(source)
Growth Equity $4,500,000
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Indoor rack w. 150kW, 500V, 250kWh energy storage system

LFP based 12.5kW, 20.16kWh modules. Each module is warranted for 42,000kWh of charge / discharge. Image: 500Vdc, 320A, 250kWh output rack. Racks can be paralleled to form: 625kWh, 500V, 1000A, 1.25MWh, 500V, 2000A, 2.50MWh, 500V, 4000A systems. Each system is DC direct coupled to a UPS. Available in both indoor and outdoor formats.

 Wide Commercial Availability
$250/kW (current)
$/kW (projected)
$250/kWh (current)
$/kWh (projected)
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