Vancouver, BC, November 17, 2011 — GreenAngel Energy Corp (“GreenAngel”) (TSX-V: GAE) reports that investee company REV Technologies Inc. (“REV” www.revtechnologies.ca) has been selected by SAIC to provide electric vehicle (EV) conversion technology and integrated vehicle to grid (V2G) and vehicle to site (V2S) networking solutions under the Aloha Micro Grid program for the U.S. Army’s Tank and Automobile Research, Development and Engineering Center (TARDEC).
As the third contract awarded to REV by TARDEC, REV is to supply the U.S. Army with two more REV 300ACX V2G-capable electric vehicles for the project, for US$ 249 thousand, bringing the total to six vehicles. These state of the art electric vehicles all have built-in connectivity to REV’s AutoGrid™ Network. The REV vehicles act as dynamic energy storage devices on the power grid, together acting as an extension of the power plant whenever they are plugged in. With REV’s AutoGrid™ connected to TARDEC’s military micro-grid, the network will demonstrate and validate various scenarios for energy efficiency including frequency regulation, spinning reserves, load shedding, peak shaving, and harnessing wind and solar energy.
Jay Giraud, founder and CEO of REV comments, “Our unique capabilities in both electric vehicles and energy network technology help enable vehicle-to-grid. Together with SAIC we can meet the requirements that the Department of Defense has to increase national security by creating a virtual power plant from as many as 200,000 non-tactical electric vehicles by 2015. So demand is there, and we’re prepared to scale quickly.
Michael Volker, Chairman of GreenAngel comments, “This agreement is a great indicator of bigger things to come from REV as they grow and deepen their working relationship with SAIC and the TARDEC project for the US military.”
About GreenAngel Energy
GreenAngel Energy Corp. is the first publicly traded company that invests solely in emerging private green technology companies. We provide an avenue for public investors to gain access to a portfolio of the most promising angel-stage investments across a spectrum of green technology sectors. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also mentors and advises investees to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Light-Based Technologies, Habitat Carbon Assets, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies.
About REV Technologies
REV is a private company that has developed the AutoGrid Network, a cloud-based energy asset management system that synchronizes the stored energy of electric vehicles with the fluctuating needs of the electrical grid to enable EV’s to participate in the commodity electricity marketplace. With REV’s intelligent networked energy control technologies, the aggregated excess energy of EV’s will act as a virtual power plant that can increase the adoption of renewable energy on the grid and decrease dependence on volatile, finite sources of fuel. With REV’s sophisticated solution, all this is possible without compromising the vehicles’ performance, capabilities or lifespan. For more information, visit www.revtechnologies.ca AutoGrid™: Plug Into Energy Freedom™
**Disclaimer: Reference herein to any specific commercial company, product, process, or service by trade name, trademark, manufacturer, or otherwise, does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or the Department of the Army (DoA). The opinions of the authors expressed herein do not necessarily state or reflect those of the United States Government or the DoA, and shall not be used for advertising or product endorsement purposes.**
ON BEHALF OF THE BOARD
Bob de Wit
CEO and Director
For further information, contact:
Bob de Wit, CEO
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