Element Energy’s grid-scale second-life batteries will be integrated into complete energy storage systems by LG Energy Solution Vertech
MENLO PARK, Calif., Nov. 21, 2024 /PRNewswire/ — Element Energy, a Menlo Park-based Battery Management Technology company, today announced a partnership with LG Energy Solution Vertech to provide full turn-key second-life battery energy storage systems for select customers. Element Energy will provide containerized second-life batteries with its proprietary battery management system (BMS) hardware and software. LG Energy Solution Vertech will provide system integration, power equipment, energy management system hardware and software plus operations and maintenance services.
The new alliance follows the announcement that Element Energy has successfully energized the world’s largest second-life battery installation. Element Energy now plans to deploy its 2 GWh of second-life battery inventory.
Founded in 2019, Element Energy has developed proprietary hardware and software applicable to both first and second-life batteries to improve visualization, battery safety, performance and cost of energy.
LG Energy Solution Vertech was established when LG Energy Solution acquired NEC Energy Solutions in February 2022 to vertically merge battery manufacturing and energy storage system integration. LG Energy Solution Vertech has over 19 GWh of integrated energy storage projects installed, in construction, and in contracting in the US and beyond.
Jaehong Park, CEO and President of LG Energy Solution Vertech, stated that “Element Energy is enabling the circular economy for batteries. By providing the integration services, balance of system components and maintenance services, we aim to work alongside Element Energy to support their second-life battery storage product.”
Element Energy’s second-life battery solutions provide a cost-competitive option to energy storage developers seeking to grow their domestic supply chain and enable the circular economy. Instead of recycling batteries with remaining useful life, which is energy intensive, Element Energy has developed the hardware and the software to efficiently and reliably extend the life of retired EV batteries.
Dr. Tony Stratakos, CEO and Co-Founder, Element Energy, said, “Our partnership with LG Energy Solution Vertech is a major step forward in working to reshape the future of batteries. LG Energy Solution Vertech’s support means that our customers will be able to deploy our second-life battery systems with peace of mind.”
About Element Energy
Element Energy is an advanced battery management technology company founded in 2019 and headquartered in Menlo Park, California. We utilize proprietary hardware and software algorithms to improve the safety, intelligence, and economics of large-format battery systems. We seek to offer our technology solutions broadly across first and second-life energy storage and EV applications. Our shareholder base includes world-renowned renewable energy technology suppliers, asset owners, developers and investors. To learn more about Element Energy, visit ElementEnergy.com.
SOURCE Element Energy