New Deal

 

South Korean LG Chemical is to provide its batteries to a commercial Energy Storage System (ESS) of US Gexpro, an official at LG Chemical told Business Korea.   

The commercial ESS is 45KWh in scale which will be, from this June, supplied to US schools, hospitals, oil stations, and office buildings, LG Chemical said.

LG Chemical, Gexpro, Ideal Power, supplier of a Power Conversion System (PCS), and Geli, supplier of an Energy Management System (EMS) concluded a memorandum of understanding (MOU) for the commercial ESS, LG Chemical said on May 4.

According to the MOU, LG Chemical, Ideal Power, and Geli will supply the battery, PCS, and EMS, respectively for Gexpro’s ESS, an LG Chemical official said.

The ESS is a peak-shift type system that stores electric energy during the night and supplies the energy during day, LG Chemical said. As a result the ESS will “reduce annual electric energy cost by 30 percent,” according to the company.

Gexpro, a former distribution corporation of General Electric, will provide over 80 distribution channels for the ESS across the US, an LG Chemical’s official said.

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