Arista Power (ASPW)

Description:

Arista Power Inc was incorporated in New York on March 30, 2001, under the name Future Energy Solutions, Inc. In November 2008, the Company changed its name to WindTamer Corporation, and, in May 2011, changed its name to Arista Power, Inc. The Company is a developer, manufacturer, and supplier of custom-designed power management systems, renewable energy storage systems, and a supplier and designer of solar energy systems. Its patent-pending Power on Demand system utilizes inputs from multiple energy sources including solar, wind, fuel cells, generators, and the grid, in conjunction with a custom-designed battery storage system and a proprietary smart monitoring technology that releases energy at optimal times to reduce electricity costs for large energy users. The Company also sells a Mobile Renewable Power Station that generates energy from solar PV, wind turbines, fuel cells, and generators that is stored in an integrated on-board energy storage device for military and other applications, and a stationary, scalable Renewable Power Station that can be drop-shipped to off-grid locations to be used as a 'micro-grid.' The Company also designs, sells and installs residential and commercial solar PV systems. Its products include: Power on Demand system, Mobile Renewable Power Station, Renewable Power Station and Solar PV systems. Power on Demand system is a proprietary, patent-pending energy storage and management system that lowers a customer's peak electricity demand, thereby reducing the customer's electricity costs. Mobile Renewable Power Station is customizable, and can consist of solar panels, wind turbines, fuel cells, generators, and inputs for shore power as well as multiple outputs with full monitoring capabilities of all energy components (solar, wind, and energy storage). Renewable Power Station is a stationary, scalable system that can be containerized and drop-shipped to the end-user and assembled on site at off-grid locations to be used as a 'micro-grid'. The system consists of solar PV, wind turbines, fuel cells, generators, energy storage and power distribution, and can be used for off-grid applications such as water pumping stations, cellular towers, disaster recovery sites, community centers in remote villages, or communications towers or battery charging stations at military bases. Solar PV systems resell and install solar PV panels either as a stand-alone system or integrated with its other products. The Company faces competition from PowerSecure, Convergent, Green Charge Networks, Xtreme Power and ZBB Energy, which are designing or installing systems that have similar characteristics as its Power on Demand system. It has two patent applications in the United States and one in Europe relates to its Energy Storage and Power Management System. The Company's businesses and operations are affected by various federal, state, local and foreign laws, rules, regulations and authorities.