Alliance will enable accelerated growth of microgrid market
Zurich, Switzerland, March 25, 2015 - ABB, the leading power and automation technology group, and Samsung SDI, the leading manufacturer of lithium-ion batteries, have signed a Memorandum of Understanding to promote microgrid solutions globally.
The two companies will establish a global commercial alliance to develop and market modular and scalable microgrid solutions, utilizing lithium-ion batteries for energy storage.
The combination of ABB's global market presence, its leadership in grid technology and its global service footprint with Samsung SDI's leading lithium-ion battery technology will enable accelerated growth of the market. It will make microgrid solutions a viable alternative to promote and broaden access to electricity in emerging markets and remote areas while providing power reliability, resiliency and security to developed markets.
"ABB is very pleased to sign this Memorandum of Understanding with Samsung SDI. Microgrid applications are expanding rapidly, both in emerging and developed markets, and are a key growth area in ABB's Next Level strategy," said ABB CEO Ulrich Spiesshofer. "This strategic alliance allows us to combine our complementary capabilities and will enable us to bring optimized solutions to our customers."
"The alliance with ABB provides Samsung the basis to expand our global No. 1 position into the Microgrids market. Together with ABB we will make our utmost effort to develop new products and to pioneer new markets to keep on being the world's best ESS company," said Namseong Cho, President and CEO of Samsung SDI.
ABB will provide technologies for electrification, control optimization, stabilization and expert consulting services. Samsung SDI will provide the batteries and the battery management system. The alliance will further strengthen ABB's and Samsung's ability to supply advanced solutions to the global microgrid market.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility, industry, and transport and infrastructure customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in roughly 100 countries and employs about 140,000 people.
Samsung SDI is a leading solution provider in materials and energy. Established in 1970, Samsung SDI began as a producer of cathode ray tubes and entered the energy solution business in 2002. It has since successfully transformed itself into a provider of batteries and energy storage systems, while expanding into the field of automotive batteries. Following its merger with Cheil Industries in 2014, Samsung SDI now aims to create synergy between its energy solution business and the newly acquired electronics and chemical materials business. Samsung SDI's products include small-sized lithium-ion batteries, automotive batteries, energy storage systems, materials for semiconductors and displays, plastic for electronic devices and vehicles, as well as artificial marble.