Thursday, June 16, 2016
HERZELYA PITUACH, ISRAEL —SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in PV inverters, power optimizers, and module-level monitoring services, and LG Chem Ltd (“LG Chem”) (KRX: 051910, 051915) announced the compatibility of SolarEdge’s StorEdge solutions and LG Chem’s new high voltage RESU10H and RESU7H batteries. The product compatibility will help further advance the accessibility to cost-effective residential solar generation, storage, and consumption.
With both on-grid and backup solutions, the new offering supports increasing self-consumption, providing power backup, and enabling energy independence. LG Chem’s RESU batteries use Li-ion technology, and their compactness allows for easy and flexible installation, both inside and outside. The RESU batteries have a high energy density and are designed for high efficiencies and a long lifetime.
“Through this collaboration, SolarEdge is adding LG Chem RESU batteries to our StorEdge solution compatibility in order to extend our offering of cost-effective and integrated energy generation, storage, and consumption,” stated Lior Handelsman, Marketing and Product Strategy VP of SolarEdge. “Building on our respective expertise, we hope to lower the cost of solar energy and accelerate the adoption rate of integrated solar energy generation and storage.”
“Offering battery compatibility with SolarEdge’s StorEdge solution is ideal as the company is a leading global inverter manufacturer,” said Sung Hoon Jang, Ph.D, Senior Vice President of LG Chem and Head of ESS Battery Division. “Taking RESU’s compatibility with various inverters as a key factor, LG Chem is very pleased to announce StorEdge as one of our main compatible inverters.”
Designed to manage both functions with just one SolarEdge DC optimized inverter, the combined solution will include remote monitoring and troubleshooting to keep operations and maintenance costs low. The StorEdge™ solution will support both DC and AC coupling. As with SolarEdge PV systems, StorEdge™ offers enhanced safety by reducing voltage to a safe level upon AC shut down when not in backup mode. The upgrading of existing SolarEdge systems is supported.
About SolarEdge Technologies
SolarEdge provides an intelligent inverter solution that has changed the way power is harvested and managed in solar photovoltaic systems. The SolarEdge DC optimized inverter system maximizes power generation at the individual PV module-level while lowering the cost of energy produced by the solar PV system. The SolarEdge system consists of power optimizers, inverters, storage solutions, and a cloud-based monitoring platform and addresses a broad range of solar market segments, from residential solar installations to commercial and small utility-scale solar installations. SolarEdge is online at http://www.solaredge.com
About LG Chem
LG Chem, Ltd. is Korea’s largest diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials and Energy Solution. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and rechargeable batteries field. Based on the many years of experience in the development and production of batteries, LG Chem is one of the world's leaders in energy storage systems. As such, the company is a primary supplier for the mobile and automotive industry around the world. Entering the business of ESS in 2010, LG Chem has constantly developed and supplied innovative solutions for the ESS market segments such as Grid, Residential and UPS. Throughout multiple production facilities and an extensive distribution network globally, LG Chem has become a global leading company.
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