December 22, 2024

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LS Materials' UltraGrid ultracapacitor system (LS Materials)

LS Materials, a South Korean energy storage device manufacturer, said Monday it is ramping up efforts to develop solutions for renewable energy, data centers and electric vehicles as demand for clean energy and sustainable technology grows.

The company recently introduced LS UltraGrid, a rack-type ultracapacitor system designed to stabilize power supplies in renewable energy facilities like wind and solar farms. Renewable energy often faces challenges with power fluctuations due to weather changes. According to the company, the system ensures a steady electricity flow, addressing a key hurdle in renewable energy adoption.

“Ultracapacitor systems like LS UltraGrid are critical for stabilizing renewable energy outputs and ensuring a reliable power supply,” an LS Materials official said, adding that interest in the product is particularly high in Europe, where renewable energy usage is expanding rapidly.

LS Materials is also developing power stabilization solutions for artificial intelligence data centers, which require continuous and reliable electricity to handle around-the-clock computational demands.

In September, the company partnered with global power infrastructure firm Vertiv Korea to create ultracapacitor-based power management systems for these facilities. LS Materials said its technology can address sudden spikes in power usage, helping to ensure uninterrupted operations.

In addition to its energy storage solutions, LS Materials is expanding into the electric vehicle market through HAIMK, a joint venture with Austria’s Hammerer Aluminum Industries. HAIMK recently began construction of a factory in the Gumi National Industrial Complex to produce lightweight aluminum components for EV battery casings. The company said the plant would begin operations in early 2025 and produce enough components to supply approximately 300,000 EVs annually.

“By diversifying our business portfolio and investing in cutting-edge technology, we aim to solidify our position as a global leader in renewable energy and next-generation manufacturing solutions,” the official added.

By Park Li-na (linapark@heraldcorp.com)