Samsung SDI announces new energy storage productSamsung SDI said Thursday it has developed a new electrical energy storage (ESS) product that can store a greater amount of energy.
The battery business arm of Samsung Group unveiled the E3 at the Electrical Energy Storage Europe 2019 in Munich starting Wednesday.
The three-day-long annual event that runs through today features more than 1,100 ESS companies from over 150 countries. The E3 has 20 percent more energy density than its predecessors, the company said. Higher energy density allows an ESS to contain more energy.
Samsung SDI is looking to tackle European commercial markets with the E3, as the product can be used to supplement uneven energy production from renewable energy sources and store off-peak electricity for peak hours at commercial energy storage facilities.
The company said it improved the E3’s energy density without changing the size of embedded battery cells because of its use of new internal materials.
According to market tracker SNE Research, the global ESS market is expected to grow by 31 percent per year to 77.6 gigawatt hours in 2025.
By Ko Jun-tae