SK signs MOU with Taiwan’s Formosa Plastics for stationary Li-ion energy storage systems
28 December 2010
JoongAng Daily. SK Energy and Taiwan’s Formosa Plastics Group have signed a memorandum of understanding to develop stationary Li-ion energy storage systems. Formosa Plastics Group is the largest company in Taiwan and the largest private petrochemical company in Asia.
Under the MOU, a cathode developed and produced by Formosa will be used in an energy storage system (ESS) from SK. The two companies will then complete work on the system together. An ESS is a large battery that can store up to 1,000 times more energy than electric vehicles currently use.
...SK said that its partnership with Formosa will help it develop a safer ESS, while also helping it enter the Chinese market, which is one of the world’s largest markets for new and renewable energy.
Comments