A UST PRESS RELEASE
April 2nd, 2014
Contact: Robert Degeneff
Watervliet, NY – In 1998, Utility Systems Technologies (UST) was awarded a product development grant from the New York State Energy Research and Development Authority (NYSERDA). As the grant’s fifteen year anniversary approaches, both UST and NYSERDA continue to profit from the collaboration. The contract negotiated between the state authority and UST stipulated that UST was to pay royalties on any sag mitigation units up to 1,000 KVA for up to fifteen years from the start of the contract. This arrangement has led to returns of upwards of $45,000 worth of royalties for NYSERDA.
The grant funded the development of a low voltage power conditioner with the intent of manufacturing and marketing a product for industrial applications. The project was initiated in response to the need for a cost-effective voltage sag mitigation product at moderate power levels, which had clearly identified market opportunities and ROI characteristics within industry standards. UST used NYSERDA’s support to provide a market ready solution to commercially susceptible low voltage issues and has since leveraged its initial technology to solve other power condition issues.
With over 900 units in the field, UST’s cutting-edge solutions now protect critical equipment in more than 40 different countries. The firm, which was awarded An Export Achievement Award by the U.S. Department of Commerce in 2011, has grown from 3 employees in 1997 to 18 employees in 2014.