Opened the 'Charger 5' EV charging station
Attention on using water-based 'aqueous electrolytes'
97%Efficiency … 8,000 charge/discharge capacity
Accelerated expansion of ESS business with Lotte C

A vanadium-ion battery (VIB) with no risk of a fire hazard has been commercialized for the first time. Electric vehicle charging facilities made of VIB energy storage systems (ESS) have also been set up in Gangnam, Seoul. The era of safely supplying high-output electric energy to ESSs in the city has opened. Standard Energy held an event to commemorate the opening of 'Charger 5,'an EV charging station connected to VIB ESS, at Lotte Hi-Mart's Apgujeong branch in Gangnam-gu, Seoul on the 30th. It is named the Charger 5 because it will increase the charging speed of electric vehicles up to 5kWh per minute.

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<Bu-ki Kim, CEO of Standard Energy, introducing the ESS facilities at the opening event of a high-speed EV charging facility,linked with vanadium ion battery ESS, held at Lotte Hi-Mart's Apgujeong branch in Gangnam-gu, Seoul on the 30th.>

Standard Energy developed VIBs for the first time. VIB utilizes a water-based aqueous electrolyte. Unlike lithium-ion batteries, which are based on organic components, there is no risk of a fire hazard. The energy efficiency reaches 97%, and the number of charges and discharges can surpass 8,000 times. VIB is seen as suitable for ESS. Bu-ki Kim, CEO of Standard Energy, explained, ““Batteries should also be divided into mobile batteries specialized for movement and station batteries capable of large-capacity storage,” adding, “VIB is specialized for station batteries.”

The company formed a consortium with Lotte Chemical and Lotte Hi-Mart, and received approvalfor a special demonstration (regulatory sandbox)in November last year to install charging facilities for electric vehicles linked to VIB ESS. As the second largest shareholder of Standard Energy, Lotte Chemical supplies the VIB materials.

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<Assemblyman Young-ho Tae (center), Standard Energy CEO Bu-ki Kim (right), and Lotte Chemical CEO Young-joon Lee discussing the vanadium ion battery ESS-linked electric vehicle charging facility.>

Electric vehicle charging stations uses system power and VIB ESS power at the same time. Cheap electricity at night is stored in VIB and used to charge electric vehicles during peak hours when electricity prices are high. The charging output is up to 200kW, which is four times higher than existing fast charging facilities (50kW level). It takes about 22 minutes to fully charge the Ioniq 5 (72㎾h class). Even while charging, VIB temperaturesare maintained around 25 degrees. CEO Kim explained, “In the city where it is difficult to secure high-output electricity, electric vehicles can be safely and quickly charged anytime, anywhere by linking the existing power grid and ESS.”

Standard Energy has set a goal of acquiring 50% of the global ESS market share. CEO Kim said, “The introduction of ESS is essential not only for electric vehiclecharging stations, but also for upgrading the power grid for industrial, power generation, and home use," and declared, “We will compete using VIBs that are safe from fire hazards and has high energy efficiency." Standard Energy plans to secure an annual 1GWh production capacity within two years.

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<Bu-ki Kim, CEO of Standard Energy, explaining the power management system (PMS) at the opening event of a high-speed EV charging facility, linked with vanadium ion battery ESS, held at Lotte Hi-Mart's Apgujeong branch in Gangnam-gu, Seoul on the 30th.>

Standard Energy, which has established a strategic partnershipwith Lotte Chemical,is accelerating its ESS businessexpansion. Standard Energy recently signed an agreement with E1 and Korea Shipbuilding &Offshore Engineering to develop charging facilities and eco-friendly ships using VIB. The event was attended by National Assemblyman Young-ho Tae (People Power Party) and Young-joon Lee, CEO of Lotte Chemical's advanced materials business. Assemblyman Tae said, "We hope that Standard Energy will lead the world with their VIBs in an era of energy crisis."

By staff reporter Yoon-sub Song (