Siemens Expands Cooperative Deal With LG Chem On Battery Energy Storage Systems

DEC 4 2014 BY MARK KANE 3

LG Chem Lithium-Ion Polymer Battery Cells Are Here To Stay Until At Least 2020

LG Chem Lithium-Ion Polymer Battery Cells

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.

Categories: Battery Tech, General

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3 Comments on "Siemens Expands Cooperative Deal With LG Chem On Battery Energy Storage Systems"

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ffbj

Synergy makes sense. Increasing industrial storage capacity of energy as we head to a alternative energy fueled world will be integral and essential to that process.

Paul Stoller

This is a big deal, based on the size of the market for energy storage (it’s many times larger than the electric vehicle market) this could really help EVs deal with the drop is gas prices due to the fact that even if EV demand slacks for a bit the demand in the energy storage market could help build/sustain the demand for the continued build out of battery manufacturing infrastructure, and require a significant enough volume to help drive the prices of cells down for the automotive market.

kdawg

Sure is busy at LG. Is there anyone they aren’t doing business with? (rhetorical)