LG Chem and Siemens have announced the signing of a deal to “collaborate more closely” on grid-stabilising energy storage systems, which will include work on Siemens’ Siestorage solution for grid integration of renewable energy.
An announcement made by Siemens said the two companies will focus on industrial battery storage systems, with the pair hoping to 'accelerate their dominance' of the growing market for energy storage systems (ESS) over several years of working together. Siemens said the agreement, made earlier this week, was driven by growing demand for ESS to stabilise grids. The two companies have already collaborated on storage for some time, but have signed a memorandum of understanding (MoU) around this latest announcement.
The division of duties between the two companies has been decided, with Siemens to supply converters and controllers to storage projects, as well as project planning and implementation. LG Chem meanwhile will supply batteries and battery management systems.
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