ACME, a provider of energy management and innovative solutions for alternate energy sector, has signed a strategic agreement with Samsung SDI to manufacture and market lithium ion batteries in telecom, solar power, defense sectors and other allied industries in India and the African continent.
As per the agreement, ACME will be the Sole Partners of Samsung SDI in India and Africa markets. It has the exclusive right to use Samsung SDI’s technology and will aim sale of up to 110 MWh of lithium ion batteries by FY 2016 in the above two regions.
Samsung SDI, a leading lithium ion battery manufacturer, will act as ACME’s partner for manufacturing and marketing Energy Storage System (ESS) solution in India and Africa.
The unique strength of the two partners will be able to create and offer disruptive and right solutions for the Indian market to resolve issues related to backup power and distributed generation, said Manoj Kumar Upadhyay, chairman and managing director, ACME
KH Kim, vice president, Marketing and Sales, Samsung SDI, said the strategic alliance with ACME will help Samsung SDI make a milestone to expand our business of the energy storage system in India and Africa market.
“As a leading company of LIB-ESS industry, we will keep continuing to explore the market in India and Africa,” Kim added. “We believe, with Samsung’s quality, capability and ACME’s network, we can reach our goal to become No.1 in this LIB-ESS business.”
The battery industry in India has been registering a CAGR of around 20 percent over the last few years.
On the global front, the last decade has observed the surge in usage of Li-Ion batteries with while that of Ni-Cd, NiMH and Lead Acid batteries has been near stagnant.
In India, this technology will help several industries including telecom, utilities, defense, off-grid, logistics and many more.
The ESS industry will also play a major role combined with the green energy solutions to make them a reliable and viable hybrid energy source unlike conventional solar and other renewable energy options that work as per the natural clock.
With the latest technological innovations, the lesser need for recharge and longer duration back-up will serve purpose by bringing contiguity in its output, the company said.