The agreement that was signed in the presence of several senior BYD executives and high level management from LEVISYS comes after on-site visits by both companies since October 2016.
Flywheel energy storage systems make use of a rotating mechanical device traditionally used to store energy from steam engines. Technological advancements by private enterprises as well as government bodies like NASA have made it possible to deploy Flywheel technology in grid energy storage for power plants, as a backup system during power failures and even automobile racing.
“This partnership with LEVISYS goes beyond spreading our core product to parts of Europe,” said Guo Bin, Director of BYD Energy Storage Business Development. “We are also reinforcing our commitment to creating a zero-emission ecosystem by preparing to offer the world a competitive way to store energy, something that combines the best of flywheel technology with electro chemical batteries.”
“LEVISYS will be able to enlarge its commercial offering in the energy storage market, giving customers a choice of storage configuration: flywheels, energy storage system or a combination of flywheel and energy storage system,” said LEVISYS President Pierre Fessler.
BYD and LEVISYS have plans to jointly participate in providing energy storage systems to global cities and cooperate in bidding for energy storage contracts in other countries.
