ower-One, Inc., a global manufacturer of renewable energy and energy-efficient power conversion and management solutions, and Panasonic (News - Alert) Corporation have entered into a strategic alliance to develop, produce and market energy storage systems for the residential and non-residential markets worldwide, combining Power-One (News - Alert) inverters with Panasonic lithium-ion batteries and systems.
Officials with Panasonic Corporation said that as part of the pact, the companies will leverage their respective research, development, sales and marketing resources for joint product and market development around the world.
Company officials said that initially the focus would be on developing the residential, commercial and utility-scale, grid-connected, energy storage systems business in Europe and the U.S., as well as the non-residential segment in Japan.
"We are thrilled to be aligned with such an innovative company and house-hold brand as Panasonic," said Dr. Alex Levran, president, renewable energy solutions at Power-One, in a statement.
Dr. Levran said that energy storage resources will greatly increase the adoption, use and sustainability of renewable energy systems throughout the world in homes, businesses, and in large utility plants.
He also said that Panasonic's strengths lie in the development, production and sale of products like their home energy management systems (HEMS) and lithium-ion battery cells, which are vital for power storage systems.
“Combining Panasonic's expertise in battery and battery storage with our advanced inverter technology should prove to be an unbeatable combination," said Dr. Levran.
"We are pleased to collaborate with Power-One, a global leader in the power inverter business," said Tamio Yoshioka, managing officer, director of energy system business group at Panasonic Eco Solutions Company.
Yoshioka said that with the combination of Panasonic's strengths in energy management technology, related products and Power-One's breadth of expertise in power inverter technology, the companies are well positioned to develop the energy storage systems business around the world, as well as expanding the non-residential segment of the energy management business in Japan.
Edited by Ashley Caputo