Energy storage: NEC to acquire A123 Energy Solutions

NEC describes A123 as the leader in lithium-ion grid storage
NEC describes A123 as the leader in lithium-ion grid storage

NEC Corp. (Tokyo) has finalized the terms of its acquisition of Energy Solutions business unit of A123 Systems LLC (Westborough, Massachusetts, U.S.) for roughly USD 100 million. The company says this will strengthen the energy storage capability of its “smart energy” business.

NEC says that through the acquisition it will become the world's leading supplier of lithium-ion battery grid storage systems. The company plans to integrate A123 Energy Solutions into the NEC Group, and NEC Energy Solutions is to begin operations as a new company in June 2014.

“With these combined strengths, NEC Energy Solutions will be able to help satisfy the growing demand for energy storage worldwide, whether driven by increased penetration of renewable energy from wind and solar, more effective grid stabilization services like frequency regulation and frequency response, or the desire for more efficient reinforcement of existing transmission and distribution grids,” said NEC Corp. Senior VP Takemitsu Kunio.

“Improving energy reliability, sustainability, and security, we will provide turnkey energy storage solutions, ranging from utility-side storage at the megawatt scale, down to behind-the-meter storage at the kilowatt scale for residential, commercial, or industrial sites.”

 

NEC to establish JV with Wanxiang

NEC describes A123 as the leader in lithium-ion grid storage, noting that the company offers not only energy storage technology, controls and equipment in a turn-key solution but application modelling to properly size these solutions, as well as service and support.

NEC also plans to establish a joint venture (JV) company with Wanxiang Group Corp. (Hangzhou, China) and its affiliates to address the Chinese market for energy storage.

 

2014-03-26 | Courtesy: NEC | solarserver.com © Heindl Server GmbH

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