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LG Chem steps further into North America’s home ESS market in partnership with Equana Technologies

Whowired News Team  |  press@whowired.com
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승인 2015.04.22  16:55:18
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LG Chem, the leading chemical firm in Korea, said on April 22 that it has signed a MOU with Eguana Technologies, a Canada-based supplier of power conversion solutions, to cooperate on ESS system business in its aggressiveefforts to strengthen its position in the North America market.

Under the agreement, both companies aim to introduce jointly developed home ESS products to North America in the third quarter of this year. Their ESS product which is consisted of Equana’sPSS and LG Chem’s battery in a single body is instantly applicable to solar panels currently built on ordinary households and is much more cost-effective in purchasing and installation compared to current products in the market.

Eguana Technologies is a world-leading power conversion solutions supplier which PCS products account for more than 30% of Europe’s entire invertor market.

The home and commercial ESS markets in North America are projected to expand rapidly on the back of the federal and state governments’ supportive polices. In particular, the home ESS market is expected to grow at an annual rate of more than 80% from 49MWh in 2015 to 950MWh in 2020.

LG Chem said it will actively expand its presence in the home and commercial ESS markets in North America in close partnership with local parts suppliers and private new-energy power generators. 

   
▲ North America’s  home ESS market prospect
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