Samsung SDI Partners with Korea East-West Power for Global ESS and Renewable Energy Projects
Samsung SDI has signed an MOU with Korea East-West Power to jointly develop and invest in global energy storage system and renewable energy projects.
What Happened
Samsung SDI announced a memorandum of understanding (MOU) with Korea East-West Power to jointly develop and invest in global ESS and renewable energy projects. The signing ceremony took place on February 6 at StarPlus Energy, a Samsung SDI–Stellantis joint venture in Kokomo, Indiana. Attendees included executives from both companies.
- Joint development and investment in domestic and overseas ESS projects
- Collaboration on new business models such as renewable energy and grid stabilization
- Joint implementation of a Management Service Provider (MSP) project at Samsung SDI's Ulsan facility
“Through our collaboration with Korea East-West Power, a leading public power generation company, we expect to strengthen our global competitiveness in the energy storage system and renewable energy sectors.”
Why this matters
This partnership combines a leading battery maker with a public power utility to strengthen their competitiveness in the rapidly growing global ESS and renewable energy markets.
Terms in This Story
- ESS
- Energy Storage System, a technology that stores energy for later use, often from renewable sources.
- MOU
- Memorandum of Understanding, a non-binding agreement that outlines the intentions of two or more parties to cooperate.
- Prismatic battery
- A type of battery with a rectangular, prismatic shape, known for high energy density and durability.
- No TP
- No Thermal Propagation, a safety feature that prevents fire or heat from spreading between battery cells.
Summarised from the linked release; details can be imperfect — always verify against the original source.