New Delhi, November 28, 2013: ACME, a leader in energy management and innovative solutions for alternate energy sector with presence in solar power generation, today said it had signed an exclusive and strategic agreement with South Korean energy storage system giant Samsung SDI, part of the Samsung, to manufacture and marketing of lithium ion batteries in telecom, solar power, defence sectors and other allied industries in India and the African continent.

As per the agreement, ACME will be the Sole Partners of Samsung SDI in India and Africa markets, has the exclusive right to use Samsung SDI's technology and will aim sale of up to 110 MWh of lithium ion batteries by FY 2016in the above two regions.

"Acme has been a pioneer in introduction of innovative and disruptive energy technologies to the Indian industry since its inception, to reduce energy consumption, carbon emission and diesel usage. In line with our tradition, we are taking major steps forward to solve one of the biggest challenges of the energy industry by having a right storage solution from Kilo Watt to Mega Watt class. This will help users to replace their diesel generators, inverters and at the same time help utilities to schedule their renewable energy generation as per the demand. Samsung SDI being world's biggest Lithium Ion battery manufacturer and leader in technology and innovation, is our partner for manufacturing and marketing Energy Storage System (ESS) solution in India and Africa. We believe the unique strength of the two partners will be able to create and offer disruptive and right solutions for the Indian market to resolve issues related to back up power and distributed generation," said Mr Manoj Kumar Upadhyay, Chairman and Managing Director, ACME.

Mr KH Kim, Vice President, Marketing and Sales, Samsung SDI said," By this strategic alliance with ACME, Samsung SDI will make a milestone to expand our business of the energy storage system in India and Africa market. As a leading company of LIB-ESS industry, we will keep continuing to explore the market in India and Africa. We believe, with Samsung's quality, capability and ACME's network, we can reach our goal to become No.1 in this LIB-ESS business."

The battery industry in India has been registering a CAGR of around 20% over the last few years. On the global front, the last decade has observed the surge in usage of Li-Ion batteries with while that of Ni-Cd, NiMH and Lead Acid batteries has been near stagnant. As per an estimate by Frost & Sullivan, the global market for Li-Ion segment was around $11.7 bn in year 2012 with 64% share of consumer batteries i.e. mobile phone, cameras, laptop, tablet PC and power tools, etc. This is expected to grow to double by 2016 and "the share of consumer batteries in the overall segment to be reduced to 52% and industrial usage to grow multifold."

In India, this technology will help several industries including telecom, utilities, defense, off-grid, logistics and many more.

The ESS industry will also play a major role combined with the green energy solutions to make them a reliable and viable hybrid energy source unlike conventional solar and other renewable energy options that work as per the natural clock. With the latest technological innovations, the lesser need for recharge and longer duration back-up will serve purpose by bringing contiguity in its output.