TPII commences engineering work on an energy storage solution for 100-megawatt crypto mining facility
News summary:
- One World Ventures 100MW crypto mining facility in Wyoming to use TPII's eCell energy storage solution
- TPII's eCell key to One World Ventures ability to access stable electricity at globally competitive rates
LAS VEGAS, NV / ACCESSWIRE / December 16, 2021 / Triad Pro Innovators, Inc. (OTC PINK:TPII) is pleased to update all shareholders on its MOU with One World Ventures, Inc.(OTC PINK: OWVI), as announced in November.
Triad Pro Innovators to develop energy storage solution for 100-megawatt crypto mining facility
In line with the scope of work, Triad Pro Innovators has now commenced engineering work to develop an energy storage solution for a 100-megawatt crypto mining facility. The solution will utilize TPII's patent-pending Triad Pro eCell technology to capture excess energy during peak production periods.
To be located in Wyoming, OWVI's facility will take advantage of the extremely favourable energy situation that has developed in the state, giving OWVI access to electricity at globally competitive rates.
Da Mu Lin, CEO of One World Ventures, said, "With our contacts to bring bitcoin mining operations to the U.S., energy cost has a huge impact to our profitability. OWVI is focused on developing a fully integrated crypto-currency mining facility in Wyoming."
House Bill 189 creates opportunity for crypto miners to access free natural gas resources
On April 15 of this year, Wyoming Governor Mark Gordon signed House Bill 189 into law. Creating an exception under W.S. § 39-14-205(p), natural gas that would otherwise have been vented or flared is now considered to have no value and is exempt from taxation if it is consumed on-site.
This comes at a time when oil and gas companies are coming under increasing pressure to reduce emissions, of which gas flaring is a leading contributor. However, in many circumstances, it is more economically viable to burn off excess gas during unplanned over pressuring than to capture it. Giving cryptocurrency miners access to that gas, usually at zero cost, creates a win-win solution.
Triad Pro eCell energy storage technology solves stability issues
Triad Pro's eCell will enable One World Ventures to rapidly store excess energy when surplus natural gas is available for electricity generation. This will allow the OWVI facility to continue operations 24/7, despite constant fluctuations in freely available natural gas.
"We approached Triad because of their unique ability to develop scalable, cost-effective custom solutions for energy storage. With Triad's ability to rapidly scale up energy storage to meet our needs during peak hours of operation, we think this is a win-win for all parties," said Da Mu Lin.
Triad Pro Innovators CEO Murray Goldenberg said, "With the ability to accept a charge at any rate, and an ultra-long lifespan, our eCell technology is perfectly suited for rapid-cycle grid storage applications like the one we are developing for One World Ventures. The repeated recharge cycles, sometimes multiple times per day as will be experienced at One World's facility, drastically shortens the useful life of even the best lithium technology. Our eCell, on the other hand, has the ability to last for decades."
About Triad Pro Innovators, Inc. (OTC PINK:TPII):
Triad Pro Innovators, Inc. has developed a proprietary device to be utilized in a variety of circumstances to store electricity. The newly developed Triad Pro power supply provides our storage system with tremendous operational flexibility. Using our propriety hardware and software solution, our eCell can be configured to store energy at a rate limited only by the network providing it, and then release that energy in a regulated way based upon the application, which allows for flexibility unknown in current chemical battery-based storage systems. Triad Pro creates and designs renewable energy solutions including Co-Generation and the patent pending eCells that can be used stand alone or modular as energy demands increase.
FORWARD-LOOKING STATEMENTS
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SOURCE: Triad Pro Innovators, Inc.