LAKE ELSINORE, CA — (Marketwired) — 10/18/13 — IDS Industries, Inc. (OTCQB: IDST) announced today that the recent vote by the California Public Utilities Commission (CPUC) requiring utilities to buy 1.3 GW of Energy Storage power by 2020 not only validates its business premise, it highlights the growth potential for the burgeoning Energy Storage market and the need for innovative solutions. The power provided by this California mandate will run nearly 1 million homes.
The San Jose Mercury News stated in a recent article, “The first-in-the-nation mandate is expected to spur innovation in emerging storage technologies, from batteries to flywheels. Once large quantities of energy can be stored, the electric grid can make better use of solar, wind and other technologies that generate energy sporadically rather than in a steady flow, and can better manage disruptions from unpredictable events such as storms and wildfires.”
“We feel that the unique attributes of our battery management and charge controller system that went into beta testing last week will enable our new product line to meet the requirements of both residential and commercial Energy Storage customers. As the Energy Storage market continues to expand as a direct response to rulings like this from CPUC and the demands of home and business owners for reliable renewable Energy Storage, we will be uniquely positioned to offer competitive solutions. The recent announcement by the CPUC only reinforces our commitment to the Energy Storage market,” stated Scott Plantinga, CEO and Vice Chairman of IDS Industries.
IDS Industries reminds its shareholders, lenders and the public it has rescheduled its Investor Conference Call to Monday, October 28, 2013. The conference call and investor update will begin at the same time, 4:30pm EDT, just after market close and will include a progress report on the Beta site–s performance.
The article title “California poised to adopt first-in-nation energy storage mandate” is in full text at:
IDS Industries, Inc. is a company in the field of Advanced Energy Storage and Portable Power Generation Solutions.
The Company–s GIIRS-rated Energy Storage products deliver clean stationary and portable electrical energy, targeting a diverse range of residential, commercial, and off-grid markets. The Company–s proprietary integrated battery management and charge controller system optimizes advanced lithium chemistry functions improving battery performance and extending battery life.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
IDS Industries, Inc.
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