Doosan Acquires 1Energy Systems and Enters Rapidly Growing Grid Intelligence Sector
Doosan Heavy Industries & Construction (DHIC) announced the acquisition of US-based 1Energy Systems, which possesses cutting-edge software technology for energy storage systems (ESS) that integrate distributed energy resources automatically into the electric power system.The acquisition furthers Doosan’s expansion into ESS solutions for operating increasingly digital, distributed electric grids. 1Energy’s advanced ESS control system technology will complement Doosan’s broad range of ESS technologies, enabling the company to conduct the complete process of ESS design, installation and test operation.
1Energy will be renamed Doosan GridTech™ and operate as a new business division of DHIC.
“Wind, solar power, and energy storage are changing how the grid operates,” said David Kaplan, 1Energy CEO who will become COO of Doosan GridTech. “Intermittent and distributed sources of both energy demand and generation require a dynamic, digital grid, where power flows both ways – to and from the end customer. 1Energy was founded to solve these problems, and becoming part of Doosan helps us further our mission.”Doosan GridTech provides advanced software controls that control complex operations of electrical grids, as well as rapidly emerging microgrids. The software helps unlock the opportunities of battery storage, enabling utilities to manage distributed resources and capture new value streams across the grid.
1Energy’s industry-leading technologies help utilities reap the full economic benefits of intermittent renewable energy. Its distributed software controls eliminate variability and response latency, creating the optimal decision-making system to guide how wind and solar generation are integrated with grid operations.Also it helps utilities to implement flexible schedules by balancing the supply and demand in real time, while maintaining power quality and grid frequency.“Doosan’s global customers are confronting two critical, long-term trends: Increased electrification of the world’s energy systems driven by public policies to reduce carbon emissions, and the declining costs of renewable technology,” said Ji Taik Chung, DHIC vice chairman and COO. “1Energy’s technologies directly address these trends and perfectly complement Doosan’s existing power generation solutions.”
Today, 1Energy has roughly 30 megawatts of energy storage projects using its platform, with about half of that in the United States. 1Energy also delivers advanced power system design services that help customers assess the impacts of renewable energy and storage on their systems. “Doosan chose 1Energy for its advanced technology platform, deep understanding of the challenges faced by power system operators and their substantial customer traction. We view 1Energy as a critical component of enabling the grid of the future, one that is in alignment with Doosan’s global growth trajectory,” said Daejin Choi, the new CEO of Doosan GridTech. “
The ESS market is projected to record rapid growth in Korea as well as the overseas markets. On June 5, the Korean Ministry of Trade, Industry and Energy announced plans to invest USD 3.9 billion in the ESS field by 2020.Last September, Doosan was selected as the leading company of a state-led project to implement smart grids. The company clinched a contract to supply 2.4MWh ESS to the Korea Power Exchange headquarters, the largest capacity for a single building in Korea.Doosan plans to further step up its efforts to advance into the overseas market, including the U.S., Southeast Asia and Europe.