Green Charge, Itochu sign global sales deal for smart storage solutions

Itochu Corp. has agreed to handle global distribution of Green Charge Networks’ intelligent energy storage solutions.

The companies announced a strategic partnership on Tuesday that will see Japan’s third largest trading house will distribute, supply and procure Green Charge Networks’ storage solutions internationally.

The deal will enable California-based Green Charge to expand its footprint into new markets both in Japan and other international regions. The company specializes in intelligent energy storage for commercial and industrial businesses.

Itochu has more than 130 offices in 65 countries worldwide and generated more than $53 billion in revenue in 2013.

Tsutomu Miyazaki, general manager of Itochu’s Inorganic Chemicals Department, said Green Charge’s intelligent energy storage solutions provided “proven savings, convenience and category leadership,” adding that Green Charge’s technology “saves customers money by time-shifting power use."

Green Charge founder and CEO Vic Shao added, “The next wave of innovation will come from power efficiency solutions, with distributed energy storage as the nucleus."

The company’s core technology is a smart controller with sophisticated cloud-based software that monitors facility loads on a second-by-second basis. By smoothing out the peaks and valleys of load profiles, the technology offers a more efficient utilization of infrastructure assets already in place, such as transformers and feeder cables, according to Green Charge.