Another week, another deal for lithium-ion firm LG Chem as the South Korean company positions itself to dominate the energy storage system (ESS) market.
LG Chem’s latest deal with Canadian power control and conversion solutions manufacturer Eguana Technologies aims to develop a fully integrated AC Battery ESS system for home use.
The multi-year deal aims to have the AC Battery ready for market by the summer.
The turnkey solution can be paired with market ready Energy Storage Management Systems, to store solar energy or provide fleet aggregators utility grid management services including voltage control, frequency regulation, demand response and load balancing.
Sunghoon Jang, Senior Vice President for LG Chem, said: “We are going to strengthen the partnership with Eguana and put our best effort to stand up as the No.1 battery maker in the North American ESS market.”
Last month LG Chem targeted the microgrid market in a multi-year deal with US-based Ideal Power to link PV energy with battery storage for home use.
In February the company secured a 300 billion won (US$272.7 million) deal to supply lithium-ion ESS to four solar plants Japan.