EG4 Expands into US Commercial Battery Market with LGES Deal
EG4, a leading US-based residential energy storage supplier, has announced significant expansion plans. The Texas-based company expects to grow into the underdeveloped commercial battery market in the US. This move follows a major partnership with LG Energy Solution (LGES) for a six-year, multibillion-dollar contract.
EG4 has secured a deal with LGES to supply 13.275 GWh of lithium-iron phosphate battery cells, manufactured in the US. Despite expected 60% import tariffs on Chinese products, the cells are set to be among the best priced on the US stock market today. This is a testament to the quality and efficiency of LGES's production. The cells come with a 15-year warranty, offering improved terms compared to many other suppliers.
EG4, based in Sulphur Springs, Texas, has grown to become one of the largest suppliers of residential energy storage in the US. The company has achieved nearly 1 GWh in sales over the past year and has around 500 employees. Its success has come from tapping new markets, with only 13% of its revenue coming from California. EG4 assembles power inverters at its base just outside Dallas and plans to expand its US production footprint.
EG4's partnership with LGES is set to boost its presence in the US commercial battery market. The company's expansion plans, coupled with the competitive pricing and robust warranty of LGES's cells, position EG4 well for future growth.
