According to a press release from the company, it plans to use the Tesla Megapack in the first of roughly half a dozen projects that it has underway. This will use the Megapack combined with STEM’s Athena artificial intelligence (AI) to manage an energy storage system for the next 20 years.
Con Edison is the customer for this project and the Tesla Megapack will be used on its Call-Window Program. This allows for the company to disperse energy from the storage system as needed during its peak hours of usage. The system will hold 4,000-kWh of energy and will take up 40% less space with 10 times less parts.
Brian Conway, CEO of Ozop Energy Solutions, said this in the news release boosting OZSC stock higher today.
“We look forward to working with this team of consummate professionals, as Ozop Energy Systems is committed to providing solutions to make a positive impact in our country’s energy transition challenges.”
OZSC stock is the target of heavy trading today alongside its news release. This has close to 200 million shares of the stock changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 34 million shares.
OZSC stock was up 13.9% as of Thursday afternoon.
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InvestorsPlace offers up daily coverage of the biggest stock market stories. A few examples from today include what has shares of Abercrombie & Fitch (NYSE:ANF), Glory Star New Media (NASDAQ:GSMG), and Blue Water Acquisition (NASDAQ:BLUW) on the move. You can learn all about that by following the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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