LG Energy Solution said on Thursday that its lithium iron phosphate (LFP) battery for energy storage systems (ESS) was level in performance with its nickel cobalt manganese (NCM) counterparts.
Its own test showed that its NCM batteries for ESS had a round trip efficiency (RTE) of 97%, while its LFP versions had an RTE of 93%. RTE refers to the charging and discharging efficiencies of batteries.
LG Energy Solution has developed two LFP batteries aimed at ESS; JF1 and JF2. JF1 was used in the test.
JF1 has an energy density of 321Wh/L and a capacity of 56.6Ah. It is 101.7x353.5x16.4mm in size.
JF6, LG Energy Solution’s NCM version of the battery in the same size, has an energy density of 440.6Wh/L and a capacity of 71Ah.
LG Energy Solution, to offset JF1’s weaker performance, plans to strengthen its state of charge and apply competitive module and pack design, the South Korean battery maker said.
Meanwhile, the longer JF2 has an energy density of 379.2Wh/L and 146Ah capacity and is 581mm in length.
LG Energy Solution is also planning to introduce LFP batteries aimed at electric vehicles after it makes inroads in the ESS market.
The company said in March that it plans to launch LFP batteries aimed at EVs in 2025.
LG Energy Solution is also the first battery maker to build an ESS-dedicated factory in the US, which it will spend 3 trillion won to make with an annual capacity of GWh. The factory is expected to be completed in 2026.
