Despite a slowdown in electric vehicle (EV) sales in the US, LG Energy Solution (LG ES) experienced a quarterly rise in profits, driven in part by increasing demand for energy storage.  

Peregrine Energy Solutions has secured US$130 million from investors including the South Korean Ministry of Environment.

Chang Jae Won of the Korea Smart Grid Association believes companies lack a model for recovering their investment in DC energy storage.

South Korean company SK On has entered the US BESS market with LFP batteries, securing a supply contract with Flatiron Energy Development.

Samsung SDI will supply megawatt-scale battery storage solutions to Germany-headquartered commercial and industrial (C&I) segment specialist Tesvolt.

Hithium has opened a 10GWh battery module and system factory in Texas, while LG Energy Solution has begun mass-producing cells in Michigan.

South Korea’s Ministry of Trade, Industry and Energy will host a competitive solicitation for battery storage capacity in two locations.

SolarEdge has closed its utility-scale battery storage division, resulting in a layoff of roughly 12% of its total workforce.

The US battery storage system integrator arm of Korean battery manufacturer LG Energy Solution (LG ES) has signed a 4-year supply deal with developer Terra-Gen.

KEPCO, South Korea’s biggest electric utility, has welcomed the start of commercial operations at a portfolio of large-scale battery energy storage system (BESS) assets.