Ideal Power and LG Chem collaborate on storage and conversion deal

LG Chem, a leading provider of lithium-ion (li-ion) batteries, has entered into a partnership agreement with Ideal Power to jointly market the former’s batteries alongside Ideal Power’s power conversion technology in systems designed for commercial demand charge reduction and microgrid applications.

Offered as paired and tested combinations, the integrated battery energy storage systems have been designed in response to demand from system integrators for simpler hardware architecture for storage applications.

LG Chem says that the paired combination of li-ion battery and power conversion technology is sized to optimize system performance for specific applications on the market, particularly peak demand charge reduction for commercial and industrial customers.

“Ideal Power’s technology is a perfect fit for our growing base of commercial and industrial customers who demand the highest quality and performance,” said LG Chem SVP Sunghoon Jang.

“This collaboration with LG Chem presents a new opportunity for our customers to buy components that are proven to work together seamlessly, and will allow Ideal Power to continue expanding our footprint in this market alongside a company with a strong reputation and global reach,” added Ideal Power CEO and President Dan Brdar.

Further details of the multi-year alliance have yet to be confirmed by either company.