Pentadyne recognised as technology pioneer

Pentadyne power corporation has been named a "2007 technology pioneer" by the world economic forum

Pentadyne Power Corporation, the commercial manufacturer of clean energy storage systems using advanced composite flywheel technology, has been named a "2007 technology pioneer" by the world economic forum.

Based in Geneva, Switzerland, the World Economic Forum (WEF) is a non-profit foundation incorporated in 1971 and funded by the world's foremost corporations to further economic growth and social progress.

WEF has non-governmental organisation consultative status with the United Nations' Economic and Social Council.

The WEF Technology Pioneers are companies identified as developing and applying highly transformational and innovative technologies in the areas of energy, biotechnology, health and information technology.

The 2007 Technology Pioneers are selected by a panel of leading technology experts appointed by the WEF recognising innovations that have the potential for a long-term positive impact on business and society.

"It is evident that technology and innovation is playing a key role in the shifting power equation at a global level".

"Driving this shift is the tremendous amount of innovation taking place outside of traditional hubs," said WEF Managing Director Peter Torreele.

"We look forward to engaging these industry leaders of the future into the community of the World Economic Forum".

To be selected as a Technology Pioneer, a company must be involved in the development of a technology innovation that will further society and be of significant benefit to business economics.

In addition, it must demonstrate visionary leadership, show all the signs of being a long-standing market leader, and its technology must be proven in a real-world context.

"We're very excited to be recognised this way by the World Economic Forum," said Pentadyne President and CEO Mark McGough.

"Our responsibility as a Technology Pioneer lies in building industry awareness of our clean energy storage product as an attractive alternative to lead-acid batteries".

"Not only can the Pentadyne flywheel provide real bottom-line benefits to a customer, but it also provides tremendous benefits to the environment".

"Over their 20-year design life, each Pentadyne flywheel deployed instead of UPS batteries will prevent the dumping of 15,000 pounds of lead and hundreds of gallons of sulphuric acid into our ecosystem".

Pentadyne's flywheel energy storage system is used to reliably supplement or replace arrays of lead-acid batteries used with uninterruptible power supply systems at data centres, hospitals, broadcast facilities, financial service centres, labouratories, military installations, manufacturing facilities and other many other sites where utility power disturbances have a significant impact on economics or safety.

The World Economic Forum based in Geneva, Switzerland, is an independent organisation committed to improving the state of the world.

Funded by the contributions of 1000 of the world's foremost corporations, the Forum acts in the spirit of entrepreneurship in the global public interest to further economic growth and social progress.

The Forum serves its members and society by creating partnerships between and among business, political, intellectual and other leaders of society to define, discuss and advance key issues on the global agenda.

Incorporated in 1971 as a foundation, the World Economic Forum is impartial and not-for-profit, and is tied to no political, partisan or national interests.

In 1995 the Forum was awarded NGO consultative status with the Economic and Social Council of the United Nations.

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