SEOUL, Feb. 6 (Korea Bizwire) — An expert panel said Thursday malfunctions in batteries are mainly to blame for a recent series of fires in energy storage systems (ESS). An investigation panel of experts concluded after a four-month probe that faulty batteries rising to abnormally high temperatures were mostly responsible for the five fires that [...]
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 [...]
SEOUL, Sept. 27 (Korea Bizwire) – Hyundai Motor Co. said Friday it will partner with a state-run renewable energy developer to recycle its used car batteries into energy storage systems. In a pilot project that will run until 2021, Hyundai Motor and Korea Hydro & Nuclear Power Co. (KHNP) will operate an energy storage project [...]
SEOUL, Sept. 9 (Korea Bizwire) — Hyundai Motor Group, South Korea’s top automotive group, said Monday it plans to enter the renewable energy market along with local solar energy firm OCI Co. Under the memorandum of understanding (MOU), Hyundai Motor will install energy storage systems (ESS) at OCI’s solar power stations in South Korea and [...]
SEJONG, Jun. 11 (Korea Bizwire) — Electric shocks are mainly to blame for a series of fires in energy storage systems (ESS), an expert panel said Tuesday, prompting the government to strengthen safety measures of major components of ESS products. The panel said that DC contactors can explode when a battery system is hit by [...]
SEOUL, May 16 (Korea Bizwire) — Samsung SDI Co. said Thursday it launched high-capacity energy storage systems (ESS) to expand its presence in the global market amid weak domestic demand over safety issues. The battery-making unit of Samsung Electronics Co. said it showcased its latest ESS technologies at ees Europe 2019, the world’s largest ESS [...]
SEOUL, May 2 (Korea Bizwire) — South Korea’s energy storage system (ESS) producers have been hit hard by a delay in determining the cause of a series of ESS fires, industry sources said Thursday. A civilian-government committee has been carrying out an investigation into a series of fires that broke out in ESS equipment from [...]