Alliance with ABB
Samsung SDI is to cooperate with Swiss-based firm ABB, the leading power and automation group in the world.
On March 25 (local time), Samsung SDI CEO Cho Nam-sung signed a memorandum of understanding (MOU) with ABB CEO Ulrich Spiesshofer to work together on developing and selling energy storage systems (ESS) for micro grids in Zurich, Switzerland.
ABB is one of the world’s top three engineering companies, along with General Electric of the U.S. and SIEMENS of Germany. Also, it is the world’s largest company in the electricity distribution facilities sector.
ESS is a large-scale energy storage system using lithium-ion and lead storage batteries. A micro grid is a small, independent power system.
With the MOU, the combination of Samsung SDI’s leading lithium-ion battery technology and ABB’s electric power parts technology will enable the companies to develop and sell ESS solutions which are optimized for micro grids.
The two said they will be more competitive when Samsung SDI’s product reliability and its global marketing ability combine with ABB’s micro grid business expertise and its global network with power companies across the world.
According to the global market research firm Navigant Research of the U.S., the global lithium-ion battery ESS market for micro grids will grow by an annual average of 41 percent, from 299MWh in 2015 to 3419MWh in 2022.