Sunverge Energy and Mitsui & Co are partnering to develop solar energy storage projects in Japan.
The partnership follows Mitsui’s $10m investment in Sunverge earlier this month.
Sunverge designs and manufactures energy storage systems that allow utilities to automatically execute demand response programs for individual customers or to meet peak energy demand.
Sunverge co-founder and chief executive officer Ken Munson said: “Japan is the second largest market for solar PV growth, which in turn is driving demand for intelligent distributed energy storage solutions.
“Mitsui has been a pioneer in renewable energy and has made early strategic investments in energy storage, and we look forward to working with them to bring the benefits of Sunverge’s advanced technology to more utilities and energy users throughout Japan.”
Mitsui & Co general manager of new business development department, infrastructure projects development division Tomonori Suzuki said: “The future of energy depends on the deployment of technologies that support intelligent management of distributed resources, and provides the ability to aggregate those resources into virtual power plants in Japan and across our worldwide network.”
Image: Morgue File
