Tokyo, Japan - March 4, 2020
Yokogawa Electric Corporation (TOKYO: 6841) announces that it has acquired capital in APB Corporation (APB), a pioneer in the development of a next-generation lithium-ion battery called the "All Polymer Battery," with the aim of growing Yokogawa's energy management system (EMS) business. The two companies have agreed that Yokogawa will provide energy management technology needed for the efficient operation and optimization of large-scale storage batteries.
APB is a Japanese startup working toward the practical application of their All Polymer Battery. The battery that APB has developed delivers high energy density and has high flexibility in shape and size, so it can be used in a wide range of applications, starting with the large-scale storage batteries required by renewable energy sources such as wind and solar power generation systems.
Through the agreement, Yokogawa will provide its EMS for use with the energy storage systems (ESS) that APB will build and sell, and will also collect the condition data of individual cells or modules and the operation data of the ESS to optimize these systems and deliver efficient operation plans.
As the adoption of renewable energy continues to grow, the market for large-scale fixed storage batteries that enable the efficient use of power is expanding. Yokogawa is leveraging its control and information technologies in a range of businesses related to the efficient production and use of energy, such as the plant energy management business, which includes the optimized control of wind and biomass power generation systems and the efficient operation of boiler, turbine, and generator (BTG) equipment, as well as the virtual power plant (VPP) resource aggregation business. By acquiring a stake in APB, Yokogawa will be able to apply the optimization and efficient operation technology it develops to a range of large-scale storage batteries and develop its business for the distributed energy resource management systems (DERMS*) that utilize these batteries.
Outline of APB Corporation
Founded: October 2018
CEO: Hideaki Horie
Business area: R&D, production and sales of next-generation Li-ion All Polymer Battery
Address: MCC Kanda Iwamotocho Building (6F), 4-12 Kanda Iwamotocho, Chiyoda, Tokyo
* A hardware and software platform to monitor and control distributed energy resources (DER) in a manner that maintains or improves the reliability, efficiency, and overall performance of the electric distribution system
Founded in 1915, Yokogawa engages in broad-ranging activities in the areas of measurement, control, and information. The industrial automation business provides vital products, services, and solutions to a diverse range of process industries including oil, chemicals, natural gas, power, iron and steel, and pulp and paper. With the life innovation business, the company aims to radically improve productivity across the pharmaceutical and food industry value chains. The test & measurement, aviation, and other businesses continue to provide essential instruments and equipment with industry-leading precision and reliability. Yokogawa co-innovates with its customers through a global network of 113 companies spanning 60 countries, generating US$3.6 billion in sales in FY2018. For more information, please visit www.yokogawa.com.
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