Exide Launches ReStore Energy Systems Division to Develop New Renewable Energy Storage & Li-Ion Energy Systems
Exide Technologies introduced ReStore Energy Systems, a new division dedicated to the development and pursuit of new markets for renewable energy storage and lithium ion energy systems.
ReStore Energy Systems is a global division that will utilize proven technologies in lead-acid energy storage, along with recently acquired lithium ion technology, to develop new application-specific solutions for high-growth, global markets such as renewable energy. Technology. The company states that application-specific collaboration with customers will be a hallmark of the new division.
"As a recognized global leader in energy storage, Exide is committed to creating innovative products that address the current and emerging realities of energy storage and usage around the world," said Gordon Ulsh, President and Chief Executive Officer of Exide Technologies. "Our new ReStore Energy Systems division will utilize Exide’s proven capabilities in advanced research and development, application engineering, the manufacture of superior-quality products, and customer service. The new division will work closely with Exide’s Industrial Energy commercial teams in North America, Europe and Asia to expand renewable and lithium ion technologies, which have the potential to become a significant strategic growth and business development platform for Exide."
"Exide’s ReStore Energy Systems is strategically focused on the design and commercialization of industry-leading, renewable energy storage solutions and high-performance, large-capacity lithium ion energy systems," said Gary Reinert, Vice President and General Manager of the ReStore Energy Systems division. "Our goal is to devise sustainable, long-term storage solutions in which technical, environmental and economic factors are perfectly balanced. This division will be highly collaborative with customers, as we work together to develop new products and applications."
The new global division is charged with identifying and pursuing new applications, principally in the following areas: large-scale storage for grid-connected renewable energy (primarily wind and solar); off-grid renewable power generation and storage (where the electricity grid does not exist or is frequently unreliable, primarily focused in developing, isolated regions of the world); new industrial energy storage opportunities that will benefit from high-performance, large-capacity, rechargeable lithium ion batteries (with primary opportunities including stationary power, portable power and motive power applications).
"For renewable energy to be competitive with coal, natural gas, nuclear and oil, it needs to be cost effective and reliable," Reinert said. "At Exide, we believe energy storage is the key to achieving these objectives. We will work to be the partner of choice for system integrators, energy developers, original equipment manufacturers and others who see the growing need for innovative energy storage solutions." In addition to leading the new division, Reinert serves as Vice President of Strategic Planning and Business Development, with responsibility for evaluating product expansion and identifying potential merger and acquisition opportunities.
In the renewable energy space, ReStore Energy Systems’ opportunities in North America and Europe will be centered on large-scale storage projects for grid-connected wind and solar farms. In emerging markets in Asia and elsewhere, off-grid solar applications will be particularly important. Local solar energy supply, for example, is becoming very popular in non-grid-connected regions, which need economical, small-scale solutions for storing and later delivering energy where and when needed.
In lithium ion, ReStore Energy Systems intends to capitalize on the performance attributes of the technology to open up new industrial markets for the Exide Onyx lightweight lithium ion energy storage systems. Potential opportunities include the electrification of certain applications that are traditionally powered by fossil fuels. ReStore Energy Systems’ efforts will complement the ongoing activities of the global Exide Industrial Energy divisions, which will continue to be responsible for delivering lithium ion solutions for existing industrial network and motive power applications.