Creation of R&D joint venture Esstalion Technologies
Japanese multinational Sony Corporation and Hydro-Québec, Canada’s largest electricity producer, recently launched Esstalion Technologies Inc., a joint venture that will research and develop high-capacity energy storage systems for power grids.
“By combining our know-how with Sony’s, we believe we will succeed in developing high-performance energy storage systems for large-scale applications as well as battery material technology suitable for use in power grids,” stated Hydro-Québec President and CEO Thierry Vandal.
Esstalion, headquartered in Québec, will be able to take advantage of Hydro-Québec’s lithium-ion battery technology and its power grid operation expertise. The new business venture will also use the technologies that Sony has developed for producing olivine-type lithium-ion iron phosphate rechargeable batteries and its highly scalable modular systems.
Leveraging the expertise supplied by the two partners, Esstalion plans to develop highly safe and reliable energy storage systems for large-scale applications. It will also test these technologies in a wide range of applications, such as meeting peak electricity demand and integrating renewable energy sources into power grids.
“Sony possesses unique capabilities when it comes to battery technologies,” said Tomoyuki Suzuki, Executive Vice-President, Corporate Executive Officer, Device Solutions Business Group and RDS Platform, Sony Corporation, and Representative Director and President, Sony Energy Devices Corporation. “The market for large-scale energy storage systems for power grids holds great promise for the future of Sony’s battery business, and by leveraging Hydro-Québec’s wealth of knowledge and technological expertise in our R&D, I believe we will be able to produce results.”
June 17, 2014