NEWS

January 11-14, 2005
PowerTower to be part of NextGen Peace of Mind Home at IBS Show in Orlando.

Gaia Power Technologies' 11kW PowerTower was part of the NextGen home that highlights innovative building products and stands as a showcase for the industry's best offerings and best practices in home automation, green building, energy efficiency and storm resistant construction. The PowerTower is a PATH approved technology and demonstrates the vital role energy storage will play in next generation homes and lifestyles.

Also, visit http://www.nextgenhome.com/2006_IBS/index.asp for more information.

December 2005 - QSR Magazine
Short Circuiting Costs: Helping Restaurants Cope with Rising Electricity Expenses

Soaring fuel prices mean rising energy costs, and that has sent some business owners scrambling for relief, but new technology provides a possible answer to rising electric bills.

Unlike residential customers, businesses pay both a flat rate per kilowatt-hour for their electric usage and a charge for their peak monthly consumption, measured in kilowatts. When there is a spike in power demand—even for just 15—30 minutes— the electric company calculates that it must constantly make that same capacity available. The utility provider then charges the business customer per kilowatt for the highest recorded peak in the month, even if average consumption is well below this peak.

Avoiding these high-usage charges is the goal of the PowerTower for Demand Reduction, developed by New York-based Gaia Technologies. The device, about the size of a filing cabinet, stores electricity in its battery module. When a demand for peak power occurs in a restaurant, the PowerTower takes over and supplies power from its battery unit, circumventing the power supplied by the electric company and preventing a recorded power spike. As a result, the utility company doesn’t charge for the higher rate of usage.

“They’ve developed the next generation of technology to save money,” says Tom Collins, spokesperson for the New York State Energy Research and Development Authority, which provided funding to Gaia for product development.

A secondary application for the device is back-up power. The unit automatically provides power to last through most power outages, allowing for operation of refrigeration systems for 4—6 hours and cash registers for up to 12 hours. It can also be controlled from off-site locations.

“With escalating prices, people are looking for solutions now,” says Bige Doruk, CEO of Gaia. “The unit can pay for itself over several years.” According to Doruk, PowerTower users can expect savings of 10—20 percent off their current electric bill.

Click here to read the article...
December Issue QSR Magazine : Gaia_QSRMagazine.pdf

November 23, 2005
News Channel 34 WBGH features fuel cell technology

News Channel 34 WBGH features fuel cell technology. A propane-based fuel cell and energy storage project in Delaware County could impact how homes are powered and heated all over the country. Gaia's PowerTower provides the energy storage and system management, and serves as an integral technology in enabling this alternative power source.

Mark Schneider, Engineering Manager for Delaware County Cooperative says, "The (PowerTower) energy storage bank actually provides for all of the electrical needs of the house. The reason you need the energy storage is because the home's electrical needs and the fuel cell are not always evenly matched so the energy storage acts as a nice buffer and allows the home to be self sufficient for its electric needs."

The PowerTower, a fully commercialized system with applications for stand alone backup power, demand reduction, and generator operation, accounts for a fraction of the total demonstration cost.

Click here to view the Video...
http://cctvimedia.clearchannel.com/wbgh/fuelcellhouse.wmv

NEW YORK : October 24, 2005
Gaia Power Technologies Secures $2.25 Million In Financing To Expand Operations, Marketing

Gaia Power Technologies Inc., a manufacturer of devices designed to overcome deficiencies in the nation's electricity infrastructure, has secured $2.25 million in Series A financing, which will allow the firm to expand its manufacturing operations, as well as intensify sales and marketing efforts.

The funding came from a diversified group of investors, signifying the increasing interest in energy-related issues. The lead investor was GHO Ventures, the investment vehicle of Greg Olsen, the American entrepreneur and scientist who recently traveled to the International Space Station for 10 days. Other funding partners included The NJTC Venture Fund and the Small Business Technology Investment Fund of the Empire State Development Corporation.

Bige Doruk, Gaia Power Technologies' founder, chief executive officer and president, said the funding will pave the way to Gaia's pursuit of more significant milestones in the alternative energy field.

“Since our founding, we've worked hard to demonstrate the validity and the many applications of our technology. We're proud of the recognition we've received in the initiatives we've already been involved in, which have included leading names in the quick service restaurant markets as well as the hospitality and residential real estate sectors,” she said. “Now, we're going to focus our efforts on taking our products to broader audiences and investing in our technology to ensure we're a leader in the future.”

Olsen, who is also chairman of Sensors Unlimited, a New Jersey-based company that develops and manufactures infrared cameras, said he is investing in the company because of the significant market opportunity for energy storage in the broader power provision landscape.

“I believe the time has come for turn-key, advanced energy storage systems within residences and businesses. Gaia has a keen understanding of the market and a product line that applies the compelling benefits of energy storage for a wide range of customers at the building scale. The investment opportunity is tremendous,” he said.

Gaia's flagship product, the PowerTower, is designed to remove inefficiencies that are inherent in the electrical transmission system. Using high-capacity batteries, it provides supplemental power that can reduce peak demand charges for businesses, remove sags and surges in local electricity and also provide building-scale power in the event of a blackout or brownout. Its products are also fully capable with renewable energy sources, including solar panels and fuel cells.

Gaia's standard unit can power a 2000 square-foot home through 95 percent of all power outages. For larger houses, or when longer back-up time is required, the unit's modular design makes it easy to add battery or power modules, ensuring a custom backup power solution that is right for any sized home or business. In all configurations, the Gaia PowerTower for Backup is easily installed by an electrician, and requires no special mounting, wiring, or digging. The PowerTower is also very environmentally friendly, since it doesn't require a fuel tank and emits no pollution.

Recently, Gaia was involved in a high-profile project in Delhi, N.Y. sponsored by the Delaware County Electric Cooperative and the U.S. Department of Energy to determine the feasibility of alternative energy usage in the home. As part of that trial, the PowerTower is currently operating in a Delhi home. The company has also installed units in three Manhattan outlets of a major national coffee retailer. Units have also been sold to private homeowners in Vermont.

August 10, 2005
Gaia PowerTower Controls Utility Fuel Cell

Gaia Power Technologies has provided a 5kW PowerTower for an advanced technology residential power generation project. The project, sponsored by the Deleware County Electrical Cooperative in New York combines a fuel cell with Gaia's PowerTower in order to provide a rural residence with power. The PowerTower will provide the peak energy needs of the residence and will perform active load-shedding in order to keep the fuel cell operating at its greatest efficiency. The installation will minimize the residence's power draw from the electrical grid and provides a means for the utility to defer costly transmission and distribution power line buildout. With the cost of extending distribution lines being approximately $50,000/mile plus associated maintenance costs of keeping lines clear of vegetation and in service, rural electrical coops (of which there are approximately 1000 in the United States) are investigating alternatives to 'running wires' to homes in remove locations. "Local generation with on-site energy storage may be an attractive alternative" said Mark Schneider, Manager of Engineering at DCEC. Said Gaia CTO, Dr. Ib Olsen, "This project is a great demonstration of how electricity storage can enable novel technologies such as fuel cells and solar power, and of Gaia's role in broadening the market for energy storage applications".

The system was installed in May 2005 and placed into operation in June 2005. A one year demonstration period is planned. NYSERDA is administering the project and Sandia National Laboratories and EnerNex Corporation, funded by DOE, are providing monitoring and other expertise during the demonstration period.

For more information, see
http://www.sandia.gov/ess/About

September 1, 2004

Gaia Power Technologies' PowerTower Product Line Receives UL Listing

The current PowerTower line of products, which includes PowerTowers for Backup, Demand Reduction, and Renewables has received certification from Intertek Testing Services SA, Inc. (ETL) that the each of the products meets stringent Underwriter Laboratories (UL) safety and performance requirements. An independent organization, ETL conducted an intensive and lengthy review and found that the single- and split-phase systems more than satisfactorily met the requirements for listing to UL 1741 for Inverters, Converters, and Controllers in Independent Power Systems. The listing, required by insurance agencies and critical for any widespread commercial deployment, represents the first such listing for a complete, turnkey energy storage system in the backup, renewable, and demand reduction markets. It covers the inverter, charge control, and energy storage components in the PowerTower, which are pre-configured and assembled within a rugged steel container. All Gaia products come ready-to-use straight out of the box and are easily compatible with multiple power sources and inputs, eliminating the need for costly and time-consuming assembly. To find out more about how Gaia can help solve your power problems, contact us here.

August, 2004
Gaia Power Provides Energy Storage for NYC Fuel Cell Installation

Gaia Power has been contracted to provide the energy storage component of a fuel cell installation that will take place in a Manhattan high-rise co-op apartment building (Marlo Towers, 301 E. 48th St.) this fall. The project is part of electric utility 1st Rochdale's Green Apple initiative, and involves the U.S. Department of Energy, New York State Energy Research and Development Authority (NYSERDA), the Cooperative Research Network, and Delaware County Electric Cooperative. The hydrogen-powered fuel cell will demonstrate the viability of clean, cutting edge energy technology in a dense urban environment. The energy storage component provided by Gaia, known as the PowerTower for Renewables, will supply peak power, baseline stability, and low-level (night time) power needs, making the installation more cost effective and efficient. 'We are pleased to be working on this stellar initiative and what's exciting in particular to us about it is that the project confirms the 'enabler' role of intelligent energy storage for renewable energy' said Ib Olsen, CTO of Gaia Power.

For more information, see http://www.1strochdalenyc.coop/AUG%202004%20NEWS.pdf


May, 2004
Gaia Power Technologies Nominated for Mayor's Award in Technology and Development in New York City

Industrial and Technology Assistance Corporation (ITAC) has announced that it has nominated Gaia Power Technologies for the Mayor's Award in Technology and Development in New York City. Gaia garnered the nomination based on its accomplishments in the energy field over the last year, which ITAC found to be a great example of new companies that will generate new jobs and revenue for the city.


April 13th, 2004
New York Community Investment Company (NYCIC) Provides Bridge Funding for Gaia Power Technologies

Gaia Power Technologies today signed a $250,000 loan with New York Community Investment Company (NYCIC) to bridge its contract with New York State Energy Research and Development Authority (NYSERDA). After doing a thorough due diligence, NYCIC determined that Gaia presented a strong business concept with considerable growth potentials. This loan will enable Gaia to complete the joint development contract with Consolidated Edison and simultaneously begin marketing its PowerTower line of energy storage application products to targeted markets.


April, 2004
Gaia Power Technologies Named Success Client for Industrial & Technology Assistance Corporation (ITAC)

In its most recent annual report, Industrial & Technology Assistance Corporation (ITAC) has named Gaia as a success company with great growth opportunity. ITAC facilitated the original introduction between Gaia and Consolidated Edison, which lead to a joint proposal to New York State Energy Research and Development Authority (NYSERDA) that was subsequently funded. ITAC also facilitated the introduction between Gaia and New York Community Investment Company (NYCIC) that resulted in subsequent bridge funding to cover the NYSERDA contract. As a result of these successful introductions and subsequent successful product development by Gaia, ITAC believes that Gaia has significant opportunity for market growth.

http://www.itac.org/About_Us/ITAC_Annual_Report_2003.pdf


December, 2003
Gaia Power Technologies Installs PowerTower for Backup in Developer's Residence

A residential home developer close to the Stratton ski area in Vermont needed an electrical backup solution for his house, situated in an area of frequent blackouts during the winter. But the regular option, an internal combustion generator, simply would not do. As the house was a second residence, it was frequently unoccupied for a week or two at a time, so the solution needed to be a smart one that would provide power automatically and reliably, with no manual intervention. Further, as it was in a residential area, it would also need to be completely quiet. What he chose was the PowerTower for Backup by Gaia Power Technologies. He chose the PowerTower because on top of easily fulfilling the power requirements for his house, it has an easy installation with a no hassle operation.


December 12th, 2003
Bige Doruk, Co-Founder & CEO, and Dr. Ib Olsen, Co-Founder, VP and CTO, Chosen as Lead Speakers for the December 12th Meeting of The Center for Economic and Environmental Partnership, Inc.

Gaia Power Technologies, will describe the company's power-source neutral platform and proprietary (patents pending) technologies that serve as the foundation for the company's intelligent power management solutions that allow efficient peak shaving, load leveling and bridging of distributed electrical power for a wide cross section of users and applications. Gaia's PowerTower line of products is composed of advanced power electronics, electricity storage devices and bi-directional communication modules, tied together by cutting-edge software applications. The unit handles current conversions and intelligent charge controlling from a wide array of power sources. While some firms sell components of a power management system, Gaia Power delivers an entire system solution for any one of a number of particular applications. The unit has also received ETL listing to UL 1741.


November 8, 2003
Gaia Power Technologies' PowerCube Powers Sound on Floats in Toy's R Us Parade

Audio Art Sound and One Dream Sound used Gaia Power Technologies' PowerCube to power the sound systems on the floats in the Toy's R Us parade in New York City with 14 self-powered Meyer Sound loudspeakers incorporated into various floats and vintage vehicles. The event producers stipulated that all audio systems must be completely independent of the vehicles and using only their own power sources. As a result, the PowerCube was a perfect match. On most vehicles, the Meyer systems were powered by Gaia PowerCube battery packs, which provide up to six hours continuous power for the Meyer Sound UPM self powered speakers, and which can incorporate standard wireless receivers for true wire independent operation using standard audio components.

http://prosoundnews.com/articles/printer_97.shtml


October 16 and 17th, 2003
Gaia Power Technologies Invited to Present at Energy Venture Fair IV in Philadelphia.

The Energy Venture Fair brought CEOs from 75 handpicked energy technology, product and service companies seeking capital funding together with venture capitalists, corporate investors, and strategic investors who are looking for investment opportunities, strategic alliances and access to emerging technologies.

Based on review of its business concept and product technology, the Fair organizers chose Gaia Power Technologies to present for a large panel of venture capital companies, government officials, and industry peers. The company's PowerTower technology generated significant investment and strategic alliance interest.


September 12th and 13th, 2003
Gaia Power Technologies Exhibits at Pace University's Recharge Energy Expo and Conference.

The RechargeSM Energy Expo & Conference was held on September 12th and 13th at Bear Mountain Resort in New York, where people came together to learn about and promote energy efficiency and renewable energy products and innovations. The two-day event offered displays, demonstrations and discussions designed to promote the use and advancement of clean energy in the tri-state New York, New Jersey, and Connecticut region. At the all-inclusive, one-stop venue, consumers were able to learn about clean energy technologies, the availability of grants, loans and other financial incentives, and shop from among the clean energy solutions showcased by participating exhibitors and sponsors

Gaia Power Technologies was invited to exhibit and it presented its PowerTower and PowerCube technology, which generated significant attention. In particular, the PowerTower, a clean turnkey solution for backup systems and solar installations proved popular. Dr. Ib Olsen, Gaia's Co-Founder and CTO was invited to give a talk entitled "Lights On During Blackouts" presenting various electrical backup solutions for residential users. Gaia also was a subject of a feature on local television emphasizing the role the company's products had in providing electricity backup during the August 2003 blackout in Northeast US.


July 18, 2003
Gaia Power Technologies Awarded $500,000 Contract from New York State Energy Research and Development Authority; Consolidated Edison To Contribute Significant Resources

Governor of New York State George E. Pataki today announced $14.5 million in awards to support 36 distributed generation (DG) and combined heat and power (CHP) projects throughout the State. Gaia Power Technologies, Inc. was awarded $500,000 of that money. The awards, administered by New York State Energy Research and Development Authority (NYSERDA) and representing a total investment of $90.5 million in DG, CHP and power initiatives when co-funding for the projects is factored in, will support projects designed to increase clean, efficient and much-needed generation capacity, and to support the development of improved generation technologies.

Including the work provided by Consolidated Edison as part of the winning proposal, this project is worth $1 million for Gaia Power Technologies, Inc.. As part of this contract, Gaia will work with Consolidated Edison install Gaia's PowerTower technology at minimum of two commercial electricity users in the Con Edison service area to demonstrate peak demand reduction and increased power quality. The economic benefit of this type of peak demand reduction is estimated to be thousands of dollars per year per business.

http://www.state.ny.us/governor/press/year03/july18_3_03.htm


June 15th, 2003
Gaia Power Technologies Installs First PowerTower in Ski Resort Area in Vermont

Gaia Power Technologies has announced that the first installation of its PowerTower has taken place in the Vermont Stratton Ski area. The PowerTower, configured for extended backup, was installed in the home of a Vermont residential real estate developer. The area suffers frequent loss of electricity particularly during the winter and the unit will provide electrical backup to critical appliances including security system and pumps for up to three days when the owner is not present. The unit can provide up to eight hours for nearly a full load of electricity for the home. Installing the PowerTower removed the need for installation of a stationary generator, a source of considerable nuisance to install, maintain, and operate in the mountain area.

Gaia's CEO, Bige Doruk, considered the ski resort area an optimal place for the company's PowerTower technology, saying, 'Many houses in the area are secondary houses and not occupied full time. The PowerTower can protect these houses for several days in case of blackouts when the owners are absent and thereby avoid costly repairs due to frozen pipes and damaged septic systems. Best of all, the unit requires little maintenance and handles all operations automatically'.


June 5th, 2003
Gaia Power technologies chosen as one of three panelists in ITAC's first Tech Transfer Conference.


ITAC's inaugural Tech Transfer Conference 2003 was held on Thursday, June 5, 2003 at the Baruch College Conference Center in New York City. The one-day event brought together approximately 200 creators and users of innovative technology with the private and public sector resources that can provide support and partnerships for research, development and commercialization.

Gaia Power technologies was recognized by Con Edison and other prominent organizations such as NYSERDA, Chase Manhattan and the SBA as one of the "hottest" start-ups in the energy sector. Bige Doruk, CEO of Gaia Power Technologies, Inc., jointly with Arthur Kressner, Director R&D Power Supply of ConEdison, presented the company's strategy as well as reflected on challenges and opportunities of working with Con Edison.

Additional information about the conference can be found at http://www.itac.org/html/tt_aftermath.html


April 14th, 2003

Gaia Power Technologies receives letter of intent from Consolidated Edison of New York to participate in next level NYSERDA proposal

Consolidated Edison today agreed to participate as sub-contractor in a proposal to New York State Energy Research and Development Authority (NYSERDA) under program opportunity notice #750-02. According to Con Edison, Gaia's technology platform and product development will be a valuable option for the utility and its customers, as it can help reduce peak loads, provide premium power and reduce the need for costly improvement and expansion of the electricity supply grid.