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Agenda 2016: LG Chem extends market leadership and expertise in the sector of Li-ion batteries and ESS solutions

29.03.2016

Agenda 2016: LG Chem extends market leadership and expertise in the sector of Li-ion batteries and ESS solutions

Jan.28, 2016, Sulzbach – In 2016, LG Chem is focusing on still more powerful Energy Storage System Solutions
(ESS). The leading manufacturer of energy storage systems looks back on a successful year 2015 and forecasts
an exciting development on the ESS market. The South-Korean company significantly expanded its business in
the sector of the energy storage systems in recent years. This development will be continued in 2016. In the
process, the investment is focused on research and development. A new manufacturing plant especially for ESS
solutions is currently under construction in Ochang, Korea. With the production sites in Korea, China and USA,
the production capacity of LG Chem reaches the highest level in the world.

Review 2015: LG Chem market leader for battery energy storage systems
In 2015, LG Chem significantly approached closer to its plan to be the market leader in the sector of grid storages and
ESS solutions for private households. In the business sector grid, LG Chem already became the market leader.
The company surpassed the target sale and a stable basis for future growth was created. Furthermore, LG Chem
expanded its market shares in the field of battery storage systems. During the last month of the year 2015, the
company made the system of nearly 300MWh storage. With this system, about 30,000 private houses were supplied
with energy. Also in its ESS business, LG Chem marked positive results. The company could increase the turnovers in
the last year by 14 times compared to the launch in 2011/2012 and by 2 times compared to 2014. The company
is focusing on the energy storage system RESU6.4EX. The residential solution allows house owners to save the
generated energy with their photovoltaic unit and to use this in the evening hours for their own consumption.
Since the beginning of 2015, LG Chem has sold more than 6,000 ESS solutions to private customers worldwide for
households – most of them in Germany.

Outlook 2016: LG Chem regarding Li-Ion batteries settled excellently
Since Li-Ion batteries are always becoming cheaper, the ESS market grows steadily. For 2016, LG Chem forecasts
even a 70 percent increase compared to the previous year. Through self analysis, the company expects a 20
percent share in the global ESS business. "According to our opinion, the ESS branch will experience a real growth
in 2016 for the first time – accompanied by huge competitive pressure. However, LG Chem is steadily settled as
the company has invested into the Li-Ion technology intensively. "Our Li-Ion batteries and ESS products reach the
most advanced solutions worldwide" reports Santiago Senn, Director of Energy Storage Systems at LG Chem Europe.
Especially, the German market is very important for LG Chem in the matter of ESS solutions. However, there is also an
increased demand in the energy provider sector. Municipal utility companies want to provide complete solutions to
private households gradually in the future. LG Chem counts a sector into its special areas in which the provider
possesses a strong partnership. Currently, the company is working on the world's largest ESS project with a power of
140 megawatts at the energy provider STEAG. On this basis, LG Chem plans to realize further multi-megawatt
hours -projects.

▷ Press Release Link

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