iTEC Acquires EV-ESS Company as Subsidiary

Recently, ITEC, which acquired Lead&?a specialized company in integrated operation and control of heterogeneous robots?is accelerating its new businesses in energy and robotics.

On the 22nd, ITEC announced that it has decided to invest in and pursue the acquisition of BAEnergy, a company related to ESS energy systems.

Founded in 2014, BAEnergy obtained the G1 grade certification for safety management systems in 2021. It operates businesses related to EV and ESS, including battery safety boxes and battery safety systems. The ESS sector is an energy storage device business that manages the efficient flow of electricity, and it has carried out projects for the Spatial Information Research Institute of the Korea Land and Geospatial Informatix Corporation and the Green Cross Ochang factory facilities.

Goseongmin, CEO of Peter & Partners, a consulting firm for listed companies, explained, "The ESS-related industry is worth paying attention to due to the increase in renewable energy," adding, "According to the EIA, the scale of ESS-related businesses has increased about fourfold, and tax credit benefits follow under the US IRA legislation."

He continued, "In addition, the world’s number one ESS company is revising upward its sales estimates for this year."

BAEnergy has strengths in Battery Logistic Solutions (BSS). It also built the Ministry of Environment’s future waste resource hub collection center and Volvo Group Korea’s Changwon factory battery safety system. It completed the used battery safety collection project (BSB) ordered by Mercedes-Benz Korea and AJ Networks. The EV business has achievements in supplying electric vehicle battery rapid charging systems to the Jeju Regulatory Free Zone and Changwon Smart City.

Since batteries can experience thermal runaway when mechanical, electrical, or high-heat shocks cause temperature rises and decomposition of separators, it is important to safely transport and store ‘used batteries’ separated from electric vehicles or energy storage systems (ESS). BAEnergy’s “Battery Safety Box (BSB)” helps safely transport used batteries. It is equipped with a self-developed safety management system that enables temperature and humidity monitoring inside the box and allows fire water injection without opening the box. It can withstand fire for at least 40 minutes.

This content was produced with the assistance of AI translation services.