SEOUL, April 3 (UPI) -- South Korea's LG Group said Thursday that its chairman, Koo Kwang-mo, visited the conglomerate's U.S. affiliate, LG Energy Solution Vertech, an energy storage system company based in Massachusetts.
LG Group said Koo's visit Monday demonstrates its strategic focus on energy storage systems as a key infrastructure component in the era of artificial intelligence.
As AI data centers proliferate across the world, surging electricity demand is elevating the role of energy storage systems as a critical solution for stabilizing power supply. LG Energy Solution is the only firm that producing those kind of batteries in North America.
According to the consultancy Global Market Insights, the global energy storage systems market is projected to grow at an average annual rate of 21.7% from 2025 to 2034.
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