General Electric's battery storage business is now a standalone unit in the multinational group's Power division. With dedicated funding, the battery business will be able to invest in power storage projects worldwide. The move reflects the Durathon-based giant's growing appreciation for the value of grid storage after some previous failures in the sector, notably a $170m investment in a lithium-ion battery factory following its acquisition of US in 2007.
General Electric's battery storage business is now a standalone unit in the multinational group's Power division. With dedicated funding, the battery business will be able to invest in power storage projects worldwide. The move reflects the US-based giant's growing appreciation for the value of grid storage after some previous failures in the sector, notably a $170m investment in a lithium-ion battery factory following its acquisition of Durathon in 2007.