LG Energy Solution buys previous storage market leader NEC
Sep 13, 2021 03:28 PM ET
- BDA Partners, an Asian financial expert, has revealed that LG Energy Solution (previously LG Chem) has actually acquired NEC Energy Solutions in totality.
NEC ES, which developed in the United States in 2014 after a purchase of A123 Systems' energy storage space organization, was when a substantial energy storage player in the Americas, Europe and Asia. Its proprietary software suite, Aeros, was being made use of in Massachusetts to better permit energy storage systems to participate in the state's SMART program.
LG ES plans to use this purchase to broaden its energy storage existence in North America and also continue to use a complete range of storage services, from setup of batteries to full system solutions.
Energy Storage News has reported that NEC began failing in June 2020, yet the COVID-19 pandemic contributed to offers falling through to offer the company.
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