Siemens and LG Chem have agreed to collaborate more closely on project development and marketing of industrial battery storage systems, and have signed a memorandum of understanding to this effect.
With this collaboration, the companies are responding to the growing demand for energy storage systems, which are needed more and more to stabilize distribution grids. Siemens will supply the converters and controller for the joint storage solutions and also handle the project planning and implementation as well as the integration of the storage systems into distribution grids and microgrids.
LG Chem will supply the batteries and the battery management system. The two companies have agreed upon accelerating energy storage solution (ESS) market dominance by collaborating on several major ESS projects over the next years.
LG Chem and Siemens have already been working together successfully for a number of years on lithium-ion-based energy storage systems. Technologies from both companies are in use in a number of international projects.
For example, Siemens supplied a Siestorage battery storage system to Vulkan Energiewirtschaft Oderbrücke GmbH (VEO). The storage system ensures black start capability of the gas turbines in the Eisenhüttenstadt power plant.
The blast furnace gas-fired power plant supplies the steel mill of ArcelorMittal Eisenhüttenstadt GmbH (AMEH) with electricity and heat in the event of failure of the local distribution network. Lithium-ion batteries from LG Chem are installed in the storage system.
LG Chem Ltd. is one of the world's largest lithium-ion battery manufacturers with significant market share in consumer, automotive and stationary applications. LG Chem, Ltd. is a globally diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials, and Energy Solution.
The company manufactures a wide range of products, from petrochemical goods to high-value added plastics, and extends its chemical expertise into high-tech areas such as electronic materials and rechargeable batteries.
Siemens' Energy Management Division, Erlangen, is one of the leading global suppliers of products, systems, solutions, and services for the economical, reliable, and intelligent transmission and distribution of electricity.
The portfolio includes plants and systems for the low-voltage and distribution grid level, smart grid and energy automation solutions, power supply for industrial plants, and high-voltage transmission systems.
For further information to LG Chem, please visit www.lgchem.com
For further information on Division Energy Management, please see www.siemens.com/energy-management
For further information on Siestorage, please see www.siemens.com/siestorage
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading supplier of combined cycle turbines for power generation, a major provider of power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2014, which ended on September 30, 2014, Siemens generated revenue from continuing operations of €71.9 billion and net income of €5.5 billion. At the end of September 2014, the company had around 357,000 employees worldwide.
Further information is available on the Internet at www.siemens.com
Reference Number: PR2014110060EMEN
Mr. Heiko Jahr
Energy Management Division
Tel: +49 (9131) 7-29575
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