SEOUL, Dec. 1 (Korea Bizwire) — LG Electronics Inc. said Tuesday it had built the nation’s largest single-site peak shaving energy storage system (ESS) at KG Dongbu Steel’s plant in Dangjin, 123 kilometers south of Seoul. A peak shaving ESS stores electricity in a battery during off-peak hours at night when electricity use and prices [...]
SEOUL, Nov. 11 (Korea Bizwire) — Hanwha Q Cells, the solar solutions unit of South Korean conglomerate Hanwha Group, said Thursday it is developing an energy storage system (ESS) facility in the U.S. state of Texas, expanding its foothold in the American renewable energy market. The Sputnik ESS facility, to be located in Hunt county, [...]
SEOUL, June 25 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) will develop an energy storage system (ESS) for ships in cooperation with a group comprising a local company and research institutes, the shipbuilder said Friday. Within the next three years, the group plans to develop a lithium battery-based ESS that will be [...]
SEOUL, June 17 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Thursday it has completed the supply of its battery system to the world’s largest energy storage system (ESS) that has come online in the United States. LG Energy, a battery unit under LG Chem Ltd., said its lithium-ion batteries are [...]
SEOUL, March 24 (Korea Bizwire) — LG Electronics Inc. said Wednesday it will supply a commercial energy storage system (ESS) in Hawaii as the South Korean tech giant eyes to expand overseas sales of efficient power management solutions. A consortium of South Korean and United States entities, including LG, the University of Hawaii and the [...]
SEOUL, Feb. 7 (Korea Bizwire) — LG Electronics Inc. said Sunday it has set up South Korea’s largest energy storage system (ESS) with local partners as the tech giant eyes to expand its presence in the ESS market. LG Electronics said the ESS was built on Anjwa Island, South Jeolla Province, some 320 kilometers south [...]
SEOUL, Jan. 23 (Korea Bizwire) — The energy storage system (ESS) industry, once spotlighted as a newly rising industry, is on the verge of a serious slump. The Hyundai Research Institute reported on Wednesday that the prolonged probe into fire accidents caused by ESS devices is slowing down the growth of the ESS market in [...]
SEOUL, Oct. 14 (Korea Bizwire) — Samsung SDI Co., a major electric vehicle battery maker in South Korea, on Monday unveiled safety measures to tackle fires in energy storage systems (ESS) that have been plaguing the industry. Samsung SDI said it has developed a special fire extinguishing system for ESS and will apply it to [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korean battery makers such as No. 1 player LG Chem Ltd. are likely to deliver weaker-than-expected earnings for the third quarter due to weak performance in their chemicals and battery business sectors, industry sources said Sunday. LG Chem, the country’s top chemical firm, is expected to have logged [...]
SEOUL, Oct. 7 (Korea Bizwire) — Shares of South Korea’s largest chemical firm, LG Chem, hit a 52-week low during Monday trading on the Seoul bourse following a grim third-quarter earnings outlook and concerns over its energy storage system (ESS), analysts here said Monday. LG Chem plunged 3.21 percent to touch a new 52-week low [...]