business-india-news

ACME to partner Samsung for Li-ion cells

New Delhi, Nov 29 : Alternate energy firm ACME on Friday said it had signed an exclusive and strategic agreement with South Korean behemonth Samsung for manufacturing and marketing lithium ion batteries in telecom, solar power, defence 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, has the exclusive right to use Samsung SDI's technology and will aim sale of upto 110 MWh of lithium ion batteries by FY 2016in the above two regions.

"Acme has been a pioneer in introduction of innovative and disruptive energy technologies to the Indian industry since its inception, to reduce energy consumption, carbon emission and diesel usage. In line with our tradition, we are taking major steps forward to solve one of the biggest challenges of the energy industry by having a right storage solution from Kilo Watt to Mega Watt class," said Manoj Kumar Upadhyay, Chairman and Managing Director, ACME.

Upadhyay said: "This will help users to replace their diesel generators, invertors and at the same time help utilities to schedule their renewable energy generation as per the demand . Samsung SDI being world's biggest Lithium Ion Battery manufacturer and leader in technology and innovation, is our partner for manufacturing and marketing Energy Storage System (ESS) solution in India and Africa."

"We believe 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 back up power and distributed generation," said Upadhyay.

KH Kim, Vice President, Marketing and Sales, Samsung SDI said," By this strategic alliance with ACME, Samsung SDI will 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. 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."

--IBNS (Posted on 29-11-2013)

business-india-news headlines

Wipro ups IT revenue forecast for first quarter

Germany's SCHOTT cleared of anti-competition charges

Wipro net up 41 percent in Q4

Sensex up 352 points; IT, bank stocks gain

100 companies to take part in India Show in Hong Kong

Sensex surges 352 points; IT, banks jump

Global crude oil price increases to $ 107.50 per bbl

10 lakh tons shortfall of sugar production in the country

SAIL files FIR against Kashmir Steel for trademark infringement

Lazeez opens their first flagship restaurant at Howrah

Papon, the East India Company endorse Sennheiser

Oriflame launches 'My Red Range'

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top