Recently, Shenzhen CLOU Electronics Co., Ltd., and corporation LG Chem Ltd. (hereinafter referred to as the LG Chem) sign the Sino-foreign joint venture contract, according to contract terms and conditions, two sides plan to set up the Shenzhen KELE New Energy Co., Ltd, in China. Registered capital of $3.5 million, CLOU contributes $2.45 million, accounting for 70% stake in the joint venture company; LG Chem contributes $1.05 million, accounting for 30%.
LG Chem affiliates to LG group, one of the three largest groups in South Korea. Chem acts as one of the most important pillar industries in LG group. For the first time, LG Chem sets up joint venture with Chinese company in energy storage field.Since it was founded in 1974, LG Chem has become the largest integrated chemical company through constant innovation and research, playing leading role in South Korean chemical industry.
CLOU masters energy storage solutions and mature capability of system integration, his PCS (energy storage bidirectional converter) technology has reached the domestic leading level. As result of independent research and development, BMS (battery management system) can realize the effective management and balance of battery groups, solving influence occurred by consistency of mass matrix storage battery system.
This cooperation helps to reduce battery purchasing cost, strengthen system stability and efficiency. Subsequent combination with CLOU’s battery pack design ability and latest BMS automatic calibration and balancing technology, joint venture will construct a fully automatic production line of battery module by joint research and development, implying effective management from battery cell to system.
Hand in hand with LG Chem, CLOU may strong into fields of land storage system, to enhance marketing competitiveness in domestic and overseas.