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    1. Samsung SDI Joins Hands with KEPCO to Push into Global ESS Markets

      Samsung SDI Joins Hands with KEPCO to Push into Global ESS Markets

      Samsung SDI, one of South Korea’s leading battery firms, is joining hands with Korea Electric Power Corp. (KEPCO) to tap into the global energy storage system (ESS) markets. The company announced on Apr. 19 that it has signed a memorandum of understanding (MOU) with KEPCO for cooperation in the ESS sector. Under the agreement, Samsung SDI will jointly enter global markets with KEPCO when the company participates in bidding for global energy projects, and it will also supply its battery when KEPCO discovers global power business models.

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      Mentions: Asia Duke Energy ABB
    2. Samsung SDI to Invest 1 Trillion Won in EV Battery This Year

      Samsung SDI to Invest 1 Trillion Won in EV Battery This Year

      Samsung SDI Co. plans to concentrate on promoting its electric vehicle (EV) battery business after selling its chemical business unit to Lotte Chemical Corp.The company will invest 1 trillion won (US$866.18 million) in the EV battery business this year. It is considering a 974.6 billion won (US$844.17 million) investment in facilities this year, mainly targeting the battery business. The figure grew more than 40 percent from that of last year. "We will invest 3 trillion won in the car battery business by 2020 to make it one of the globally best businesses in the industry," Samsung SDI Chief Executive Cho Nam-seong said during a shareholders' meeting earlier this year.

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    3. LG Chem to Focus on New Businesses, Including ESS, Electric Vehicles

      LG Chem to Focus on New Businesses, Including ESS, Electric Vehicles

      LG Chem currently leads the global ESS market with the world’s best competitiveness in the ESS sector, which is a key technology in the next-generation eco-friendly energy market. In December last year, the company signed an agreement with AES Energy Storage, the No. 1 ESS company in the world, to supply batteries that can provide 1 gigawatt-hour (GWh) for the first time in the ESS industry, establishing a strong foothold to lead the global market. 

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      Mentions: Asia GM U.S.
    4. Korean Government Proposes Energy Blueprint - 10,000 New Jobs to Be Created in Local Energy Sector

      Korean Government Proposes Energy Blueprint - 10,000 New Jobs to Be Created in Local Energy Sector

      The Korean government proposed a blueprint to explore six new energy businesses and create a 2.08 billion won (US$2.01 million) market by 2017, along with more than 10,200 related new jobs. The Ministry of Trade, Industry and Energy announced a plan to discover six new energy businesses and develop them to become future industries, together with business individuals, at the 11th Presidential Advisory Council on Science and Technology on July 17. The six businesses are electric power demand management, integrated energy control services, independent micro-grids, solar cell rental, electric vehicles and charging, and thermal effluent businesses.

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    5. Samsung SDI Wins Award for Energy Storage Systems

      Samsung SDI Wins Award for Energy Storage Systems

      Samsung SDI was recognized in London yesterday as a leading company in Energy Storage Systems (ESSs). The local company revealed that it received a Company of the Year Award for Energy Storage in Europe 2014 at the Frost & Sullivan Awards held in London, England on May 14. Global research company Frost & Sullivan selects and awards companies with remarkable achievements, by industry, every year. Samsung was previously a recipient of the best quality and innovation award for its lithium-ion secondary cells at the Frost & Sullivan Awards ceremony in 2009.

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      Mentions: Japan Italy Europe
    6. Korean Core Energy Storage System Tech to be Transferred to U.S. Company

      Korean Core Energy Storage System Tech to be Transferred to U.S. Company

      Mechanical engineering Professor Ha Seong-kyu at the ERICA Campus of Hanyang University announced on March 31 that his research team signed a contract with Beacon Power to transfer its flywheel energy storage device technology. According to the contract, the team receives a fixed royalty of US$330,000, along with 1.5 percent of the sales for the next 10 years. A flywheel energy storage device converts electricity to high-speed rotational motion energy and converts it back to electricity when necessary. Combined with wind power or photovoltaic power generators, it can ensure a continuous supply of electricity, even when wind or solar power supply is temporarily cut.

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      Mentions: U.S. Beacon Power
    1-6 of 6
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