LG Energy Solution Takes Over US-based NEC Energy Solutions

Sep 22, 2021 12:27 PM ET
  • South Korean lithium-ion battery supplier LG Energy Solution (LG ES) has actually acquired US-based market gamer NEC Energy Solutions from NEC Corporation for an undisclosed sum.

The information was introduced on Friday by BDA Partners, which functioned as the unique monetary expert to LG on the deal. Japan's NEC Corporation has transferred all shares in NEC Energy Solutions, a Massachusetts-based energy storage space system combination and also solutions subsidiary, to LG Energy Solution, Ltd

The obtained organization has actually experience obtained from 986 MW of energy storage space tasks in North and also South America, Europe and Asia. It offers a software control collection called AEROS.

The statement says that LG ES will certainly utilize the purchase to expand its energy storage space service in The United States and Canada. The acquisition also allows the firm to develop itself as a one-stop energy storage space system (ESS) solution provider that provides the full variety of services.

Prior to the procurement, LG ES' tasks focused on vehicle, mobility, IT as well as ESS batteries. The firm has customers in power grids, UPS as well as the commercial and also property fields.

LG Energy Solution is amongst the world's most significant makers of electrical car batteries, in addition to serving many other sectors consisting of customer electronics. It likewise makes its own domestic battery energy storage space systems and products cells and other elements to many developers and also integrators in the commercial, industrial as well as grid-scale fixed energy storage sector segments. It has actually been largely focused on high energy density nickel manganese cobalt (NMC) battery chemistry.

The offer provides the new owner a prospective high degree of vertical combination within the energy storage system (ESS) room. BDA Partners stated that the NEC ES takeover will certainly make it possible for LG Energy Solution to come to be a one-stop ESS solution carrier, engaged in solutions from battery installment to full system solutions. It will also look for to broaden its presence in the North American ESS market.

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