Richardson Electronics, Ltd. Completes Phase One of Largest Retrofit of Ultracapacitors for Pitch Energy Modules in North America
Richardson Electronics, Ltd. (RELL) achieves a milestone with over 50,000 installations of patented ULTRA3000® pitch energy modules for wind turbines. The ULTRA3000® significantly reduces environmental impact by replacing toxic lead-acid batteries, saving millions in maintenance costs and reducing CO2 production.
The installation of over 50,000 ULTRA3000® pitch energy modules (PEMs) by Richardson Electronics represents a significant advancement in the renewable energy sector. The retrofitting of ultracapacitors in place of traditional lead-acid batteries within wind turbines is a noteworthy development for several reasons. Firstly, it indicates a growing market acceptance of ultracapacitor technology over older battery types. This shift could signal a broader industry trend towards more sustainable and maintenance-friendly energy storage solutions.
From a market perspective, the successful deployment of such a large number of PEMs can be seen as a strong indicator of Richardson Electronics' competitive position within the renewable energy market. The company's ability to reach this milestone quickly may reflect a robust manufacturing and supply chain strategy, which is crucial for meeting the increasing demand for renewable energy solutions. Moreover, the environmental benefits, such as the significant reduction in CO2 emissions and toxic waste from lead-acid batteries, align with global sustainability goals, potentially increasing the company's favorability among environmentally conscious investors and consumers.
The environmental implications of Richardson Electronics' ULTRA3000® PEMs are substantial. Replacing approximately 250,000 lead-acid batteries with ultracapacitors not only mitigates the environmental risks associated with toxic battery disposal but also contributes to a considerable reduction in CO2 emissions. The estimated savings of 3,300 tons of CO2 underscores the role of innovative energy storage in combating climate change. Furthermore, the reduction in maintenance and disposal costs for owner-operators of wind turbines could incentivize the adoption of such technologies, potentially leading to a ripple effect of increased investment and innovation in sustainable wind energy infrastructure.
The financial implications for Richardson Electronics and its stakeholders are multifaceted. The milestone suggests potential for increased revenue streams from the renewable energy sector, a market with growing demand. The cost savings for owner-operators, due to lower maintenance and disposal costs, could translate into a stronger value proposition for Richardson Electronics' products, potentially leading to increased market share and higher sales volumes. This development may also attract investors seeking exposure to companies with strong environmental, social and governance (ESG) profiles. However, it is essential to monitor the company's ability to scale production and maintain quality as it expands globally, as these factors will be critical in sustaining financial growth and meeting investor expectations.
03/14/2024 - 11:00 AM
Company reaches milestone with over 50,000 units of patented ULTRA3000® installed
LAFOX, Ill., March 14, 2024 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd . (NASDAQ: RELL), a global provider of engineered solutions for renewable energy and other power management applications, has reached a significant milestone with the shipment and installation of over 50,000 patented ULTRA3000® pitch energy modules ("PEMs"). PEMs store and manage energy required to adjust the blade angles to ensure effective operation of the wind turbine. This achievement marks the largest retrofit of ultracapacitors for pitch energy modules in North America and is a major step toward the Company's growth goals within the renewable energy market.
Richardson Electronics' ULTRA3000® is a drop-in replacement for lead acid batteries used in electric pitch systems within wind turbines. Lead-acid batteries are toxic to the environment if not properly disposed. In addition, the improved life span of the patented ULTRA3000® reduces maintenance requirements and significantly reduces the environmental impact associated with lead acid batteries. To put it into perspective, the Company estimates the impact of installing 50,000 PEMs is equivalent to:
Eliminating the demand for approximately 250,000 toxic lead-acid batteries that can cause environmental issues Saving an estimated 3,300 tons of CO2 production Saving owner-operators millions of dollars in maintenance and battery disposal costs over the life of the wind turbine “This milestone is a testament to our team’s dedication and hard work. Our design, manufacturing, and quality approach allowed us to reach this milestone in a very short amount of time. As we celebrate this achievement, we are excited to expand outside of North America with new products designed and engineered for other wind turbine platforms throughout the world," stated Greg Peloquin, Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions groups.
Richardson Electronics will showcase its ultracapacitor pitch energy modules and other product solutions for wind turbine platforms on September 24 to 27, 2024, at the WindEnergy Hamburg Event (Hamburg, Germany). With approximately 40,000 attendees from over 100 countries, this show is one of the world's biggest and most important wind business platforms for exchanging news and views and building networks.
About Richardson Electronics, Ltd.
Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes, and related consumables; power conversion and RF and microwave components, including green energy solutions; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and adhere to our supplier terms and conditions. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The Company's strategy is to provide specialized technical expertise and "engineered solutions" based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com .
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
About Richardson Electronics – Green Energy Solutions
Richardson Electronics Green Energy Solutions combines our key technology partners and engineered solutions capabilities to design and manufacture key products for the fast-growing energy storage market and power management applications. As a designer, manufacturer, technology partner, and authorized distributor, GES's strategy is to provide specialized technical expertise and engineered solutions using our core design engineering and manufacturing capabilities on a global basis. We provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. GES focuses on products for numerous green energy applications such as wind, solar, hydrogen, and electric vehicles and other power management applications that support green solutions such as synthetic diamond manufacturing. For more information, visit us at https://www.rell.com/greenenergysolutions/ .
About Richardson Electronics – Power & Microwave Technologies
For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world's most innovative technology partners. Richardson Electronics' Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at rellpower.com | relltubes.com | rellaser.com .
For Details Contact: peloquin@rell.com
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How many units of ULTRA3000® pitch energy modules have been installed by Richardson Electronics, Ltd.?
Richardson Electronics, Ltd. has installed over 50,000 units of patented ULTRA3000® pitch energy modules.
What is the purpose of ULTRA3000® pitch energy modules in wind turbines?
ULTRA3000® pitch energy modules store and manage energy required to adjust the blade angles for effective wind turbine operation.
What event will Richardson Electronics, Ltd. showcase its ultracapacitor pitch energy modules for wind turbines?
Richardson Electronics, Ltd. will showcase its products at the WindEnergy Hamburg Event in Hamburg, Germany, on September 24 to 27, 2024.
How does the ULTRA3000® pitch energy module benefit the environment?
The ULTRA3000® pitch energy module reduces environmental impact by replacing toxic lead-acid batteries, saving millions in maintenance costs, and reducing CO2 production.
Who is the Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions groups at Richardson Electronics, Ltd.?
Greg Peloquin is the Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions groups at Richardson Electronics, Ltd.
