Last December, E.ON SE, one of the UK's top energy suppliers, and Samsung SDI, a leading Li-ion battery manufacturer, signed a Memorandum of Understanding and formed a partnership on the development of profitable energy storage solutions.
The companies joint their forces to work on the development of profitable energy storage solutions. To meet their business goal, they need to first "assess and develop a potential business model for targeting applications for Lithium-Ion batteries" in selected regions and markets.
The Memorandum of Understanding mainly focuses on possible solutions for grid stabilization, industrial customers and appropriate energy systems. During the first phase, battery projects are expected to launch in the US, Germany, UK and Czech Republic, but both companies are interested in extending their business to other countries at a later time.
According to E.ON, the expansion of renewables, together with customers' demands for decentralized solutions are driving the need for flexibility across the entire energy system. Bernhard Reutersberg, Chief Markets Officer E.ON SE, believes that Lithium-Ion batteries are "well suited to provide part of this flexibility due to their modular size, efficiency, simplicity and scalability."