LG Energy Solution sees lithium iron phosphate (LFP) battery production to meet demand for stationary energy storage systems (ESS) in the US market as a “new growth engine” for the South Korean manufacturer.

LG Energy Solution will build a cell factory with 16GWh of annual production capacity dedicated to the stationary energy storage market.

LG Energy Solution has joined the global Task Force on Climate-related Disclosures (TFCD).

LG Energy Solution has said that the US is its most important target market, as the company reported record quarterly revenues for Q3 2022.

LG Energy Solution has seen a drop in its profitability which according to the company’s CFO was largely caused by industry headwinds.

News in brief from around the world in energy storage.

Buyers of home energy storage systems in Australia should check if batteries in their devices come from a batch recalled.

US utility Vistra has brought a 260MW/260MWh battery energy storage system (BESS) online in Texas, the largest in the state.

Ongoing supply chain challenges and the impact of Russia’s war on Ukraine have affected the quarterly revenues of LG Energy Solution.

Li-Cycle has been selected as preferred battery recycling partner to LG Chem and LG Energy Solution for their North America operations.