Ice Energy makes systems that freeze water at night when electricity prices are lower. The system uses the ice for space cooling during the day when electricity prices are higher. Ice Energy is an energy storage company, headquartered in Santa Barbara, California.
The Ice Energy systems are installed on the roofs of large buildings and is connected to the air conditioning systems. The Ice Energy systems significantly reduce the electricity demands for buildings. Ice Energy’s primary customers are California utilities.
Ice Energy has announced it has secured $40 million in financing from Argo Infrastructure Partners LLC, a private equity group. The financing will fund an energy storage project for Edison International’s Southern California Edison Utility. The financing will also fund new projects that are planned in Australia, Europe and the Middle East.
In my opinion, the Ice Energy systems are an innovative energy conservation system. In my opinion, America will need innovative energy conservation systems and renewable energy, before our country will abandon fossil fuels.