Global utility giant Edison Power wants to acquire Canadian graphene super-capacitor company Sunvault, according to a report run by the marketwired.com website on Friday.
Sunvault, based in Edmonton, Alberta, announced it has received a letter of intent from Edison Power about acquiring at least 50.1 per cent of its shares.
The Canadian power storage company, which works with graphene technology developed by UCLA, claims its resultant super-super capacitor enables power generation, transfer and storage within one unit.
Three months ago, Sunvault signed a letter of intent with U.S.-headquartered Edison Power to sell energy in deregulated markets, starting with Alberta, using the Canadian company's technology as a grid stabilization tool.
The latest approach from Edison envisions combining Sunvault solar power generation technology with Edison Energy Storage tech.
Sunvault also claims its energy storage technology enables the super-fast charging of smartphones and electric vehicles (EV).
According to the Marketwired report, Sunvault is now considering the proposal.
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