LG Electronics Investment Expected to Accelerate Fractal's Growth
LG Electronics (LG) will integrate the proven energy management system (EMS) from Fractal EMS into LG's commercial energy storage systems. LG also made a strategic investment into Fractal EMS for commercial and industrial applications.
The alliance supports LG's growing ESS business in the United States, particularly enhancing competitiveness in the commercial and industrial segments, as LG also prepares to launch residential ESS products later this year. For Fractal, LG's investment is expected to accelerate Fractal's organic growth, while recognizing its position as an EMS leader.
Working with Fractal supports LG's vision of ushering in a new era of efficient energy storage systems and energy management technologies, according to Thomas Yoon, president and CEO, LG Electronics North America. "Complementary technologies from LG and Fractal will represent important parts of the energy ecosystem for high-performance buildings, which also includes super-efficient LG HVAC systems," he said.
Fractal EMS CEO Daniel Crotzer said, "LG's investment advances our mission to combine modern architecture and competitive pricing to create the industry's best energy storage and hybrid controls." Integrating the Fractal EMS platform with LG's advanced ESS units "will contribute significantly to the industry's efforts related to maximizing safety and profitability of storage and hybrid systems," he said.
LG's evolving portfolio of energy innovations covers a range of products and services where the company is positioned to be a market leader, including energy storage systems, energy management solutions and various yet-to-be-announced advancements. These technologies complement LG's array of energy-efficient product offerings, from heat pump dryers and water heaters to advanced HVAC solutions and ENERGY STAR® certified home appliances.
Fractal EMS, which has 3 GWh in operation and 8 GWh of awarded ESS and hybrid projects, was designed by experienced operators to maximize safety and profitability of storage and hybrid systems. Fractal EMS is a turn-key energy storage controls platform that includes software, controllers, integration and analytics (with optional monitoring and maintenance). Based in Austin, Texas, Fractal EMS also provides fleet and asset analytics that provide the ability to monitor asset performance and health and simplify management.
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About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $63 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is 2022 ENERGY STAR® Partner of the Year-Sustained Excellence. The company's commitment to environmental sustainability and its "Life's Good" marketing theme encompass how LG is dedicated to people's happiness by exceeding expectations today and tomorrow. www.LG.com.