Samsung SDI and Korea East-West Power will jointly pursue domestic and international projects in energy storage systems (ESS) and renewable energy sectors.
Samsung SDI announced on the 9th that it signed a memorandum of understanding (MOU) for "Global Energy Power Generation Business Cooperation" with Korea East-West Power at StarPlus Energy (SPE), a joint venture with Stellantis located in Kokomo, Indiana, USA.
Under the agreement, the two companies will jointly develop and invest in domestic and international energy generation projects, including ESS. They also plan to pursue new business models such as renewable energy-linked ESS deployment and power grid stabilization projects. Additionally, the companies aim to expand cooperation across the energy sector, including jointly conducting energy management and operation service (MSP) business at Samsung SDI's Ulsan plant.
Identifying joint business opportunities in the global energy market is another key pillar of the partnership. The two companies agreed to share information and capabilities to proactively respond to supply chain changes and enhance their cooperation model over the medium to long term. The agreement is considered significant as it represents a collaboration between Korea's leading battery manufacturer and a state-owned energy company to generate tangible global business results in the rapidly growing ESS and renewable energy markets.
Samsung SDI has a broad ESS product portfolio ranging from battery cells and modules for auxiliary power applications such as uninterruptible power supplies (UPS) and battery backup units (BBU) to the "Samsung Battery Box (SBB)" utility-scale ESS solution. As a non-Chinese prismatic battery manufacturer, the company is recognized for its technological competitiveness based on high energy density, durability, and safety technology that suppresses thermal propagation. Recently, it has been strengthening its position in the ESS market by securing successive large-scale supply contracts with major U.S. energy companies.
Korea East-West Power has accumulated power plant construction and operation capabilities through overseas power projects in the United States, Australia, Saudi Arabia, and Indonesia. Based on its experience in building Korea's first generation-linked ESS and operating MSP centers, the company is expanding business models that combine power generation infrastructure with energy solutions.
"We expect to strengthen our global competitiveness in ESS and renewable energy through cooperation with Korea East-West Power, a leading state-owned enterprise in the power generation sector," said Kim Heon-jun, Vice President and Head of Samsung SDI America. "We will solidify our position as a differentiated energy solutions company."
"The combination of state-owned energy company infrastructure and private sector advanced technology can secure competitiveness in global markets," said Kwon Myung-ho, President of Korea East-West Power. "Through this agreement, we will deliver actionable business results."