E.ON and Samsung SDI sign a Memorandum of Understanding on co-operation in energy storage business

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.

“The expansion of renewables, together with customers’ 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 scalability”, said Bernhard Reutersberg, Chief Markets Officer E.ON SE. “To 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 record”, he added.

“As 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 fabricate”, said Sewoong Park, Vice President of Samsung SDI ESS Business Team. “With 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.”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.