South Korean energy storage company H2 is to set up a new battery production plant to scale up the production of its secondary vanadium redox flow battery.
The 4628m2 facility will be built in Yuseong, South Korea, with a targeted annual production capacity of 30MWh.
H2’s industrial flow batteries have a cycle life of up to 20,000 cycles and a 20-year shell life. Each of the company’s mid- to large-scale energy storage systems (ESS) consist of a 125kW power module and can be used for peak shaving and back-up power.
The Korean firm decided to aim for the medium to large-scale ESS market as it expects an increasing growth in Korea as well as abroad. According to H2, secondary battery materials are forecast to diversify from the existing lithium to flow materials.
“As the weight of the renewable energy certificate for ‘wind power + ESS model’ is amplified, the demand for ESS in various forms and microgrid technology will increase,” said CEO Han Shin. “We are promoting cooperation with leading power generation companies in Korea. So, we will be able to win large-scale ESS orders for flow battery application within the year.”
H2 is the only flow battery manufacturer in Korea. The company recently won $2.7m in funding from the KRB Network and the Korea Development Bank.
