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Element Energy and LG Energy Solution Vertech Partner on Second-Life Battery Storage
Nov 26, 2024•over 1 year ago
Contract Type
partnership
Description
Element Energy has announced a partnership with LG Energy Solution Vertech to provide turn-key second-life battery storage for select customers. This partnership will combine Element Energy’s containerized energy storage and battery management system with LG Vertech’s system integration, power equipment, software, and maintenance services. The partnership aims to enhance the deployment of second-life batteries for energy storage projects.
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Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months