BASF Stationary Energy Storage GmbH (BSES) and South Korea’s G-Philos have signed a sales and marketing agreement for NAS batteries (sodium-sulphur stationary batteries) for power-to-gas (P2G) projects, power grid and microgrid applications, the companies jointly announced.
The companies will work together to develop and market energy storage systems based on NAS batteries from BASF and power conversion systems (PCS) from G-Philos. G-Philos will also purchase NAS batteries from BSES with a total capacity of 12 MWh.
BASF and G-Philos started partnership in 2020 when an NAS battery system and a PCS developed by G-Philos were deployed in a demonstration P2G project implemented in South Korea.
The two companies decided to expand cooperation following successful operation of that project.
Based on their agreements, BASF and G-Philos plan to strengthen their commitment to the market for long-duration energy storage and climate-friendly hydrogen in South Korea and the Asia region. G-Philos also intends to offer preconfigured package solutions consisting of a combination of NAS batteries with its power converters through its own distribution network.
We remind, BASF posted a EUR130m loss in its German domestic market during the third quarter (Q3), as economic conditions deteriorated quickly, on the back of high production costs for chemicals companies. Martin Brudermuller added, however, that the overall increase in sales revenue in Q3 came thanks to the company’s ability to pass higher input costs onto customers through higher selling prices, as well as a weaker euro, benefiting the company in its non-euro sales.
mrchub.com