Siemens and LG Chem have agreed to collaborate more closely on project development and marketing of industrial battery storage systems, and have signed a memorandum of understanding to this effect.
Siemens will supply the converters and controller for the joint storage solutions and also handle the project planning and implementation as well as the integration of the storage systems into distribution grids and microgrids. LG Chem will supply the batteries and the battery management system. The two companies have agreed upon accelerating energy storage solution (ESS) market dominance by collaborating on several major ESS projects over the next years.
LG Chem and Siemens have already been working together successfully for a number of years on lithium-ion-based energy storage systems. Technologies from both companies are in use in a number of international projects. For example, Siemens supplied a Siestorage battery storage system to Vulkan Energiewirtschaft Oderbrücke GmbH (VEO). The storage system ensures black start capability of the gas turbines in the Eisenhüttenstadt power plant. The blast furnace gas-fired power plant supplies the steel mill of ArcelorMittal Eisenhüttenstadt GmbH (AMEH) with electricity and heat in the event of failure of the local distribution network. Lithium-ion batteries from LG Chem are installed in the storage system.