LG Energy Solution vows safer ESS, creation of LFP ecosystem

LG Energy Solution (LGES) said Thursday it signed a memorandum of understanding with the Korea Electrical Safety Corp. (KESCO) to strengthen the safety of energy storage systems (ESS) and foster an ecosystem for lithium iron phosphate (LFP) batteries in Korea. Under the agreement signed Wednesday, the two sides will work together to develop safety management policies for ESS and share their data, expertise and technologies. They also plan to establish a new safety management system for facilities that will use LGES’ LFP batteries in ESS projects. “With this agreement, we will apply the highest safety standards to ESS sites using our batteries,” LGES CEO Kim Dong-myung said. “We will do our utmost to ensure the safety and build a strong ecosystem for LFP batteries used in domestic ESS.” Among Korea’s three major battery makers, only LGES can mass produce LFP batteries. The company is also preparing to begin local production of LFP batteries at its plant in Cheongju, North Chungcheong Province. According to energy market tracker SNE Research, more than 90 percent of ESS worldwiWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times