SANTA CLARA, Calif., Sept. 30, 2014 /PRNewswire/ -- Clean tech market leaders Green Charge Networks and Samsung SDI today announced the signing of a strategic supply agreement to deliver as much as 25 megawatt-hours (MWh) of lithium-ion batteries over the next two years. The agreement guarantees Green Charge has adequate supply of batteries as it seeks to expand its leading position in the growing market for intelligent energy storage.
Samsung SDI is the leading manufacturer of lithium-ion batteries for stationary energy storage, electric vehicles, and consumer electronics. In February 2014, Samsung SDI announced an investment of $600 million to build China's largest automotive lithium-ion battery manufacturing plant in Shaanxi province. The plant will begin operation in October 2015 with an annual capacity of enabling battery supply for over 40,000 EVs. Samsung SDI formed the strategic alliance with Green Charge as it has emerged as the leading solution in distributed energy storage with a fast growing list of brand name customers.
The GreenStationTM software-driven energy storage systems are installed and operating at commercial businesses, cities, and schools from coast to coast. After more than a year of technical collaboration, Green Charge chose Samsung SDI as its primary source for lithium-ion due to its safety, quality standards, and 10-year warranty. In addition to scale, Samsung SDI has met the highest level of performance and reliability demanded by Green Charge's customers. By agreeing to purchase as much as 25 MWh of batteries from Samsung, Green Charge assures itself access to safe and reliable lithium-ion batteries to expand its market-leading position. Samsung SDI, in turn, benefits by gaining access to the growing mid-tier U.S. energy storage market.
"Green Charge's partnership with Samsung affirms our commitment to using the best technology to deliver exceptional results to our customers," said Vic Shao, CEO at Green Charge Networks. "Our customers count on us to use safe, reliable, and robust battery technology. This partnership solidifies the quality and value of the GreenStation platform."
"Distributed energy storage will follow the same growth trajectory as distributed solar in the years to come," said Woo-chan Kim, SVP of Samsung SDI. "We are pleased to partner with Green Charge as it has developed one of the most advanced and software-driven energy storage solutions. This partnership will vastly accelerate deployment in the emerging battery storage market in America and beyond."
About Samsung SDI
Having entered the secondary Li-ion battery business in 2000, Samsung SDI has developed and grown into a market leader. Li-ion battery manufacturing now serves as one of Samsung SDI's core businesses as it seeks to restructure its business portfolio from electronic display products to eco-friendly energy solutions, thereby writing another chapter of our industrial history in the energy sector. The secondary lithium-ion batteries manufactured by Samsung SDI are rapidly expanding their applications from digital mobile devices such as cell phones and laptops to electric vehicles such as xEV and Energy Storage System (ESS). Our employees are sparing no effort to further develop new and innovative technologies and products and to expand our presence into untapped markets. For more information, visit http://www.samsungsdi.com/main.
About Green Charge Networks, LLC (Green Charge)
Founded in 2009, Green Charge Networks is a leader in intelligent customer-sited energy storage. The company gives commercial and industrial businesses, municipalities, and schools control of rising demand rates on their monthly electric bills. Green Charge's product complements solar PV, electric vehicle charging, and energy efficiency. The GreenStationTM was developed in partnership with leading utilities and Fortune 500 customers from coast to coast. K Road DG is the lead investor in Green Charge, with a $56M investment announced in July 2014. Green Charge is headquartered in Santa Clara, CA, with offices in New York City. For more information, visit www.GreenCharge.Net.
SOURCE Green Charge Networks