Siemens Expands Cooperative Deal With LG Chem On Battery Energy Storage Systems
LG Chem and Siemens announced a plan of closer collaboration on battery storage systems.
Both companies already were engaged in some ESS projects, but with the latest memorandum of understanding on project development and marketing, cooperation could be raised to a higher level.
“With this collaboration, the companies are responding to the growing demand for energy storage systems, which are needed more and more to stabilize distribution grids. Siemens will supply the converters and controller for the joint storage solutions and also handle the project planning and implementation as well as the integration of the storage systems into distribution grids and microgrids. LG Chem will supply the batteries and the battery management system. The two companies have agreed upon accelerating Energy Storage Solution (ESS) market dominance by collaborating on several major ESS projects over the next years.”
LG Chem, as one of the largest suppliers of lithium-ion batteries to electric cars, seems to be finding countless partners, which should leverage its future sales.