LG Groups’ battery technology wing known as LG Energy Solutions has completed the 100% takeover of Li-ion battery manufacturer and integration service provider NEC Energy Solutions from parent company NEC Corp. LG ES has made this move in order to move into the integration business as an expansion of their Energy Storage Solution portfolio, LG ES expects the global energy storage industry to see a significant increase and with this move it has made sure that they have the capacity and capability to evolve with the increasing demand. LG ES has created a new company for the newly acquired services named LG Energy Solution Vertech Inc. After the acquisition LG ES now offers completely integrated AC and DC energy storage systems and services such as installation, maintenance, service and monitoring of its systems.
In the past LG ES has partnered up with NEC for several projects across Europe where NEC ES was always the integrator and LG ES provided other services from the portfolio it offered at that time. Now, the projects being maintained by NEC ES will fall under the new LG ES Vertech Inc. and from now on, LG ES Vertech Inc. will appear as a Developer, Storage Tech Provider and as an integrator.
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