PRESS RELEASE
Seoul, South Korea – August 8, 2016 – Kokam Co., Ltd, the world’s premier provider of innovative battery solutions, today announced that South Korea’s largest utility, Korea Electric Power Corporation (KEPCO) [NYSE: KEP], has awarded it a contract to develop a 36-megawatt (MW) system / 13-megawatt hour (MWh) Energy Storage System (ESS) for frequency regulation at the Non-Gong substation in South Korea. The project features a combination of two unique Kokam Lithium Ion battery technologies-its Ultra High Power Nickel Manganese Cobalt (NMC) battery technology and its NANO battery technology. Work on the project began in June 2016 and is scheduled to be completed by December of 2016.
In March, Kokam announced that it had successfully deployed for KEPCO two Ultra High Power NMC ESSs-a 24 MW system / 9 MWh and a 16 MW / 6 MWh system-along with a 16MW / 5MWh Lithium Titanate Oxide (LTO) system. Together these systems currently provide KEPCO with 56 MW of energy storage capacity for frequency regulation. When the new 36 MW ESS project is completed, Kokam will have deployed 92 MW of energy storage capacity for frequency regulation for KEPCO, and the total worldwide capacity of ESSs using Kokam batteries will total 132 MW.
“We look forward to deploying this new 36 MW ESS for KEPCO and continuing to support its effort to install 500 MW of energy storage capacity for frequency regulation by the end of 2017,” said Ike Hong, vice president of Kokam’s Power Solutions Division. “Based on our advanced Ultra High Power NMC and NANO battery technologies, this ESS will provide KEPCO with the industry-leading performance, reliability and cycle life characteristics that they have come to expect from Kokam, enabling them to achieve a strong return on their energy storage investment.”
About Kokam Co., Ltd.With a globally acknowledged and proprietary manufacturing technology, Kokam Co., Ltd has provided a wide range of Lithium Ion/Polymer battery solutions to customers in over 50 countries and many different industries, including the military, aerospace, marine, Electric Vehicle (EV), Energy Storage System (ESS) and industrial markets. With over 150 battery-related patents and a total of 650-megawatt hours of field performance, Kokam is a proven leader in providing innovative, high-tech battery solutions. For more information, please visitwww.kokam.com.
About Korea Electric Power Corporation (KEPCO)Korea Electric Power Corporation (KEPCO) is South Korea’s largest Utility established under the Korea Electric Power Corporation Act with the purpose of promoting the development of power resources, stabilizing the electric supply, and growth of the national economy. With about 20,000 employees, KEPCO supplies more than 470 Terawatts annually to South Korea for sales of $41.1 Billion. KEPCO has a total of 10 subsidiaries: 22 companies overseas and 10 domestic companies in areas of electric power generation, transmission, transformation, and distribution, as well as related marketing, research, investment, and asset management.
