SEOUL, Oct. 20 (Korea Bizwire) — South Korea’s battery sector has roared back to life this month, rebounding sharply from months of stagnation tied to electric vehicle (EV) demand concerns. The rally has sent related exchange-traded funds (ETFs) soaring, though analysts caution that the upswing may be short-lived. According to data from the Korea Exchange as [...]
SEOUL, March 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Wednesday it has signed a five-year deal with a Taiwanese company to supply batteries for residential energy storage systems (ESSs) in the United States. LGES will provide Delta Electronics, Inc. with lithium iron phosphate (LFP) batteries for the [...]
SEOUL, Feb. 25 (Korea Bizwire) — In a significant shift within the global battery industry, Chinese manufacturers substantially increased their market dominance in 2024, while South Korean competitors saw their share shrink in both electric vehicle and energy storage markets. According to data released by SNE Research on February 24, global battery shipments reached 1,460 gigawatt-hours [...]
SEOUL, Dec. 20 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Friday its U.S. unit has signed a multi-year deal to supply energy storage systems (ESS) to a local renewable energy infrastructure investor. LG Energy Solution Vertech, Inc. will supply 7.5-gigawatt-hour (GWh) ESS units to Excelsior Energy Capital LP [...]
SEOUL, Nov. 14 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday its U.S. unit has signed a long-term deal to supply energy storage systems (ESS) for a local renewables developer. LG Energy Solution Vertech, Inc. will supply 8-gigawatt-hour (GWh) ESS systems to U.S. renewable energy firm Terra-Gen Power [...]
SEOUL, Sept. 14 (Korea Bizwire) — Samsung C&T Corp., South Korea’s top builder, said Thursday it has signed a deal with a U.S. renewable energy firm to sell 15 photovoltaic power stations and energy storage systems (ESSs) under construction in Texas. The deal calls for Samsung C&T Renewables, an American unit of the builder’s trading [...]
SEOUL, Aug. 4 (Korea Bizwire) — Hanwha Aerospace Co., an aerospace business unit of South Korean conglomerate Hanwha Group, said Thursday it has completed the development of an energy storage system (ESS) designed for large ships in collaboration with Hanwha Ocean Co., a shipbuilding unit of the group. The newly developed ESS is based on [...]
JEJU, Jan. 13 (Korea Bizwire) – The provincial government of Jeju Island said Thursday it will establish energy storage systems (ESS) at three sites on the island on a gradual basis by 2026 as part of efforts to ensure the stable storage and supply of renewable energy power. The three ESS will have a combined [...]
SEOUL, Dec. 28 (Korea Bizwire) — LG Electronics Inc. on Tuesday held a completion ceremony for a peak shaving energy storage system (ESS) at its home appliances factory LG Smart Park in Changwon, South Gyeongsang Province. The system is designed to contribute to lowering the burden of electricity charges as well as to reducing greenhouse [...]
SEOUL, May 11 (Korea Bizwire) — South Korean builder SK ecoplant Co. and battery maker SK On Co. said Tuesday they have established the nation’s first energy storage system (ESS) power supply facility at a construction site. The facility is located at an apartment construction site in Anyang, Gyeonggi Province. The two companies plan to [...]