LG Energy Solution has signed a memorandum of understanding (MOU) with three Hanwha Group affiliates — Hanwha Q Cells, Hanwha Momentum, and Hanwha Aerospace — to promote cooperation in battery-related business, including energy storage systems (ESS).

The two sides will set primarily focus on the U.S. energy storage system (ESS) market, which is growing rapidly under the U.S. government’s eco-friendly energy policies.

Through cooperation with LG Energy Solution, Hanwha Q Cells will be able to secure stable battery supply and competitive procurement, which will help it become a top-class company in ESS business development and EPC.

LG Energy Solution will also cooperate with Hanwha Momentum, an automation engineering solution company that provides process equipment to various customers in the secondary battery, solar, display, and automobile sectors. The two companies plan to cooperate in battery manufacturing facilities.

LG Energy Solution and Hanwha Aerospace have agreed to cooperate in developing special-purpose batteries that can be applied to urban air mobility (UAM) aircraft.

Source: BusinessKorea