HCP Installing Primus Power Energy Storage Systems at Life Science Buildings

HAYWARD, Calif., Jan. 08, 2018 -- Primus Power (“Primus”), a leader in stationary energy storage systems, announced today that it has received orders to install flow battery systems at multiple life science buildings owned by HCP, Inc (“HCP”) (NYSE:HCP), a fully integrated real estate investment trust that invests primarily in real estate serving the healthcare industry in the United States.

EnergyPod 2: low cost, long duration energy storage

Primus EnergyPods are long duration flow batteries that generate savings by storing electricity from the grid during times of low price and demand, and releasing it back at times of high price and demand.  The release back to the grid reduces the electrical draw from the utility, saving money for commercial building tenants with no impact on operations.

“At HCP, we take pride in delivering best-in-class facilities for customers,” said Tom Klaritch, HCP’s Executive Vice President and Chief Operating Officer.  “Sustainable building operations that incorporate renewable energy, integrated and efficient subsystems and now, stationary battery systems like those from Primus, provide savings that benefit all of our stakeholders, in addition to supporting our corporate sustainability initiatives.”

“We are delighted to work with HCP and help their tenants save money,” remarks Tom Stepien, Primus Power’s CEO.  “Commercial customers pay premiums for peak electricity, typically in late afternoons.  A long duration battery system, like our 5 hour EnergyPod, better guarantees savings compared to short duration systems that have insufficient energy to catch extended peaks.  Additionally, our two decade fade-free performance results in significant lifecycle savings over Li Ion batteries which tend to fade 10-15% per year, as we commonly experience in our cell phones and laptops.  Commercial buildings need the Duration without Degradation™ that Primus provides.”

About Primus Power
Primus Power is a California-headquartered provider of low-cost, long-life and long-duration energy storage systems.  The Company’s flow batteries are shipping to U.S. and international commercial/industrial, data center, microgrid, utility, and military customers.  With technical innovations protected by 40 patents in 11 countries, the Company’s EnergyPod systems offer exceptional reliability, modularity, and energy density at an industry-low total cost of ownership.  www.primuspower.com

About HCP
HCP, Inc. is a fully integrated real estate investment trust (REIT) that invests primarily in real estate serving the healthcare industry in the United States.  HCP owns a large-scale portfolio diversified across multiple sectors, led by senior housing, life science and medical office.  Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.  For more information regarding HCP, visit www.hcpi.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5c015d33-e014-4eb9-b21f-a3f53fb6c803