10 hours Ago By [email protected](KoreaTimes)
Models pose in front of Samsung SDI's Samsung Battery Box 1.5 energy storage system in this undated file photo. Courtesy of Samsung SDI Supply to include high-density battery systems By Nam Hyun-woo Samsung SDI said Friday that it has signed a 437.
4 billion won ($300.7 million) contract to supply energy storage system (ESS) batteries for U.S.
company NextEra Energy, as part of their major supply deal with a total anticipated value exceeding 1 trillion won. In a regulatory filing, Samsung SDI said the two companies signed the supply contract on Thursday, as part of their multiphased ESS battery supply deal. Samsung SDI said its supply will be “carried out across multiple projects,” and the company will disclose details on “additional supply contracts confirmed in the future.
” Reports last July alleged that Samsung SDI was in discussions with NextEra Energy to supply 6.3 gigawatt hours of ESS batteries, valued at over 1 trillion won. This capacity represents 11.
5 percent of the total ESS capacity in North America, which was 55 gigawatt hours last year. The main product scheduled to be supplied to NextEra Energy is the Samsung Battery Box (SBB). The SBB is a standardized, fully integrated product that combines battery cells, safety systems and air conditioning units in a 20-foot container.
Once connected to the power grid, the SBB can immediately be used as an ESS, offering the advantages of easy transportation and installation. Samsung SDI is expected to supply the SBB 1.5, which has an energy density 37 percent higher than its predecessor.
Meanwhile, Samsung SDI said its board approved a plan to issue 11.82 million new shares worth 2 trillion won, to secure resources for its long-term growth. Samsung SDI said it will use the funds raised through the capital increase for investments in a joint venture with General Motors, expanding production capacity at its Hungary plant and investing in facilities for its domestic solid-state battery line.
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