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LG Chem Expands Footprint in Australian Residential Solar Storage Market

03.29.2016

LG Chem Expands Footprint in Australian Residential Solar Storage Market
Company poised for five-fold growth in 2016

SYDNEY, AUSTRALIA, 24 March 2016 - LG Chem, Ltd., one of the world's leading manufacturers of lithium-ion batteries has announced its plans to expand its footprint in the Australian residential solar storage market. With its expertise and legacy in the IT and Automotive battery industry, LG Chem has more recently established itself as a clear leader in the
energy solar storage (ESS) market today.

LG Chem entered the Australian residential storage market in July 2015, with the RESU6.4EX. The product has the
highest energy density in the world, which means it is the smallest in volume compared to the amount of energy it
can deliver. Its quality has already been proven in Germany and Japan - the two markets LG Chem has seen the
most uptake of its residential storage systems to date. The company has also seen exponential traction for the
RESU6.4EX in Australia more recently.

Untapped opportunity in Australia for solar energy storage

LG Chem believes it can play a key role in Australia's solar renaissance. In a less than year since the company's entry
into the Australian market, LG Chem is already making significant strides. Supported by its two main distributors Solar
Juice and Supply Partners, the company supplied 600 units since it launched in Australia and expects to see a five-fold
increase in growth this year, supplying more than 3000 units in 2016. Once the feed-in-tariffs (FiT) come to an end in
Australia in 2017, the company expects to see even greater growth.

"This could be a critical decade for Australia. There is a massive sustainability potential that is yet to be fully tapped",
said Changhwan Choi, Manager for Australian business development. "We see a quiet solar revolution brewing and we
strongly believe that LG Chem will be at the forefront of this transformation to help unlock the true value of solar
storage and better enable the ecosystem. We welcome competition too. We are positive that more people adopt the
RESU6.4EX in Australia, the market will appreciate the quality, efficiency and cost competitiveness of our offering".

LG Chem's decision to expand into the Australian market is fueled by the country's increased recognition of the
importance of solar power generation and storage given the highest average solar radiation per square metre of any
continent in the world1. Solar energy systems will also play a critical role in tackling climate change. According to
market research company Navigant Research, the ESS market is set to grow from its current level of 1.1 billion US
dollars (1.0 billion euros) to $7.4 billion within the next five years.

A new policy paper released this month by the Clean Energy Council of Australia entails a slew of initiatives that would
help increase the uptake of the battery storage in the country. One of the key support measures is to design new
"tariffs that can allow consumers to realise the economic benefits of an investment in the technology".

LG Chem's list of global customers in the automotive industry has broadened over the years since it began delivering its
lithium ion battery, such as GM, Ford, Chrysler, Audi, Daimler, Renault, Volvo, Hyundai, and various Chinese
manufacturers.wth-in-2016

Renew Economy
▷ LG Chem ramps up Australian battery storage plans ahead of "critical solar decade"

Manufacturer`s Monthly
▷ LG Chem Expands Footprint in Australian Residential Solar Storage Market

PRWire
▷ LG Chem Expands Footprint into Austrialian Residential Solar Storage Market Company poised for five-fold growth in 2016

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