LG Chem to supply energy storage batteries to three US companies

 LG Chem to supply energy storage batteries to three US companies

LG Chem has signed a memorandum of understanding (MOU) with three U.S. companies — Gexpro, Ideal Power and Geli — to supply its batteries for energy storage solution (ESS) systems.

Under the agreement, LG Chem will supply batteries for ESS systems, being developed by Gexpro, with a capacity of 45KWh, according to a report from the Korea Times. These systems will be delivered to schools, hospitals, oil stations and office buildings. Gexpro, a former subsidiary of GE (NYSE: GE), was acquired by Rexel of France in 2006.

LG expects the North American market to grow at an annual rate of 70 percent from 2015 to 2020.

Subscribe to Power Engineering magazine

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...