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4-Traders Homepage  >  Equities  >  KOREA EXCHANGE  >  Samsung SDI Co Ltd    006400   KR7006400006

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Samsung SDI : and ABB Form Strategic Microgrid Commercial Alliance

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03/25/2015 | 11:14am CET

Alliance to combine Samsung’s battery expertise with ABB’s global market presence

Samsung SDI (KRX:006400), the world’s leading manufacturer of lithium-ion batteries, and ABB, the leading power and automation technology group, have signed a memorandum of understanding to establish a strategic commercial alliance. Samsung SDI and ABB join forces to develop and market microgrid systems that comprise energy storage solutions.

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.

ABB’s global presence and knowledge in microgrid will pave the way for Samsung SDI to gain better access to microgrid systems and markets. At the same time, Samsung SDI’s leading position and expertise in battery and materials will enable ABB to expand business horizon to energy storage systems.

“The alliance with ABB provides Samsung the basis to expand our global No. 1 position into the microgrid 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 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.”

According to B3, a Japanese market research firm, Samsung SDI was in 2014 the world’s largest lithium-ion battery manufacturer in the world, leading in consumer electronics and stationary applications.

The Energy Storage market for Lithium Ion batteries in microgrids was estimated by Navigant research (2014 report) to reach 3.42GWh by 2022, at a 41% CAGR.

About Samsung SDI
Samsung SDI (www.samsungsdi.com) 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.

About ABB
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 worldwide.

© Business Wire 2015
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