E1, Establishment of ESS-Linked Electric Vehicle Chargers at LPG Stations

Standard Energy Signs Business Agreement... "Creating Future Car Charging Infrastructure"

[Asia Economy Reporter Moon Chaeseok] E1 is building an electric vehicle (EV) charging infrastructure that links energy storage systems (ESS) to liquefied petroleum gas (LPG) stations.

On the 18th, E1 announced that it signed a "Business Agreement for ESS-Linked Ultra-Fast EV Charging Project" with Standard Energy at E1 headquarters in Yongsan-gu, Seoul. Standard Energy is a company specializing in ESS. The event was attended by Koo Dong-hwi, CEO of E1's New Growth Business Division, and Kim Bug-gi, CEO of Standard Energy, among others.

After the agreement, E1 will participate in the EV charging business by utilizing its nationwide LPG station infrastructure and Standard Energy's next-generation ESS technology. When E1 installs ultra-fast EV chargers at LPG stations, it plans to create future vehicle charging infrastructure by linking these chargers with Standard Energy's vanadium-ion battery-based ESS. The vanadium-ion battery is a technology developed first in the world by Standard Energy. It is characterized by having no fire risk and high energy efficiency, enabling sufficient power supply for charging needs. It is considered ideal as an ESS for EV charging at LPG stations.

The two companies also agreed to actively participate in the introduction of related regulations. Standard Energy plans to pursue a demonstration exemption through a regulatory sandbox and then build ESS-linked ultra-fast EV charging facilities at E1's LPG stations. If realized, this will be the first installation of ESS-linked EV charging equipment at LPG stations. CEO Koo said, "We will actively promote the EV charging business utilizing LPG stations to accelerate the discovery of new growth engines for E1." CEO Kim said, "We will work together to create future vehicle charging infrastructure by combining E1's LPG station infrastructure and operational know-how with Standard Energy's technological capabilities."