FlexGen Delivers 5 Next Generation Hybrid Drilling Systems for Devon Energy

HOUSTON, Texas – June 1, 2017 – FlexGen® announced today that it reached an agreement with Devon Energy (NYSE: DVN) to deliver five additional next generation hybrid systems to drilling rigs in Oklahoma and New Mexico. The FlexGen® solid state generator (SSG) incorporates software controls, advanced power electronics and energy storage to improve drilling operations, reduce energy and maintenance costs, and improve reliability.

“The next generation SSG greatly improves the resiliency of rig power systems, and cuts fuel costs by 15-25%. For operators like Devon looking to cut operating expenses while improving reliability and efficiency, it is a slam dunk,” said FlexGen CEO Josh Prueher.

FlexGen is a leading energy storage technology company. Leveraging its best-in-class energy management software and power electronics, FlexGen delivers utility-scale storage projects integrated with traditional and renewable power generation globally. Our customers and partners include the most technically and commercially demanding developers, utilities, government agencies, and industrial companies in the world. For more information, visit www.flexgen.com.

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As the second-largest U.S. energy storage technology company, FlexGen designs and integrates storage solutions and the software platform that is enabling today’s energy transition. Leveraging its best-in-class energy management software and power electronics, FlexGen delivers utility-scale storage projects integrated with traditional and renewable power generation globally. Our clients and partners include the most technically and commercially demanding developers, utilities, government agencies and industrial companies in the world.