E.ON and Samsung SDI sign MOU for ESS Cooperation
E.ON SE has signed a memorandum of understanding with Samsung SDI Co., Ltd., on co-operation in the energy storage business. The co-operation includes the development of profitable energy storage solutions and, to this end, to assess and develop a potential business model for targeting applications for Lithium-Ion batteries in selected regions and markets. The agreement focuses on solutions for grid stabilization, industrial customers and appropriate energy systems.
â€œThe expansion of renewables, together with customersâ€™ demands for decentralized solutions are driving the need for flexibility across the entire energy system. Lithium-Ion batteries are well suited to provide part of this flexibility due to their modular size, efficiency, simplicity and scalabilityâ€, said Bernhard Reutersberg, Chief Markets Officer E.ON SE. â€œTo grow in this area, we are convinced Samsung is the right partner for us to develop a potential business model. The company is a market leader with a strong know-how and track recordâ€, he added.
â€œAs one of global leaders of supplying lithium-ion battery-related products, Samsung SDI serves the ESS markets with new innovative products that our capability and experience fabricateâ€, said Sewoong Park, Vice President of Samsung SDI ESS Business Team. â€œWith the developing battery technology, Samsung SDI strengthens the product line-up and platforms for diverse ESS applications, and will continue to be a trustworthy partner to E.ON.â€
E.ON and Samsung SDI Co., Ltd., will run battery projects in US, Germany, UK and Czech Republic first. Both companies have planned to extend these initiatives to other countries.