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 [...]
CHEONAN, Jan. 7 (Korea Bizwire) — South Korean public institute has developed new technology that can preemptively prevent massive fires by sensing and cooling the electric arc that can be generated at large-capacity energy storage systems (ESS). The Korea Institute of Industrial Technology announced on Wednesday that it had developed a new system that can [...]
SEOUL, May 31 (Korea Bizwire) — Hyundai Motor Group, South Korea’s leading carmaker, said Sunday that it has joined hands with local solar cells and modules manufacturer Hanwha Q Cells to develop energy storage system (ESS) with used electric vehicle (EV) batteries. Under the memorandum of understanding, the two sides will cooperate to find a [...]
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 [...]