LG Chem, Gexpro, Ideal Power & Geli Team Up For Battery Energy Storage Systems
LG Chem strengthens its position in the energy storage market in North America. After its deal with Canadian Equana, LG Chem has now entered into a new alliance.
It reminds us of the beginning of a larger campaign, which could make LG Chem a counterweight to Tesla Motors Energy.
The latest partnership between Gexpro (worldwide electrical distributor, solutions provider and a subsidiary of Rexel), Geli, Ideal Power and LG Chem will result in new Battery Energy Storage Solution (“BESS”).
“As a leader in energy solutions, Gexpro will be the system integrator using industry-leading technology from each of the supplier companies. Using Gexpro Power IQ, commercial and industrial customers will be able to optimize their energy consumption and reduce their energy bills by relying on their own energy system, thereby avoiding demand charges during high peak hours. Gexpro will rely on its extensive distribution network and energy solutions expertise, widely recognized by its customers, to promote Gexpro Power IQ, a key and innovative offering amongst its sustainability and energy efficient solutions suite.”
The first joint product will be a turnkey anti-peak demand solution with 30kW / 45kWh modules, but we don’t know the price yet. Customers will be able to connect several modules if more power or energy is needed.
LG Chem will of course supply lithium-ion battery cells, while Ideal Power brings power electronics.
“The first “BESS” available to the marketplace will be a 30kW, 45kWh complete turnkey solution for use in the North American behind-the-meter demand charge reduction market. Demand charges in many states can be up to 50% of the total energy bill for a commercial consumer. A typical installation will use between one and eight 30kW Battery Energy Storage Solutions in a commercial building with high peak loads such as retail, office buildings and schools.”
SVP and General Manager of Gexpro, Jim Hibberd, said:
“As part of Gexpro’s total energy solution program of energy reduction and production, we are excited to add energy storage to complete our total energy solution offering.”
Dr. Ryan Wartena, Chief Executive Officer and Co-Founder of Geli commented:
“We are excited to provide the Geli Energy Operating System, Demand Charge Management Energy App, and Internet of Energy Platform to bring together world-class components and distribution to introduce a new model of delivering energy storage system solutions in packages designed for easy deployment by solar and energy developers.”
Dan Brdar, Chief Executive Officer of Ideal Power remarked:
“Ideal Power is thrilled to have been selected by Gexpro to supply its innovative, award-winning power conversion systems to Gexpro’s new line of Battery Energy Storage Systems. Gexpro’s reach into electrical contractors and utilities opens up a whole new channel of potential customers and partners which will give Ideal Power the ability to capture even more of this exciting growth market for which our converters are ideally suited.”
Sunghoon Jang, Senior Vice President, LG Chem stated:
“LG Chem is honored to enter into this agreement with Geli, Gexpro and Ideal Power to deliver integrated solutions for distributed, customer-sited energy storage systems. By combining our advanced battery technology, which has enabled LG Chem to establish leading positions in the global hybrid and all-electric vehicle market and the stationary energy storage market, with our partners’ power electronics, system integration and product distribution capabilities, we’re enabling competitive energy storage systems that will exhibit the highest levels of performance, flexibility and reliability.”