[THE INVESTOR] Korean display module firm Enerzent said on Nov. 22 it has signed an engineering, procurement and construction contract with US-based Micronoc for the design of energy consumption solutions through the use of energy storage systems.

Enerzent led a consortium that included Byucksan Power and mNOC AERS, a subsidiary solely owned by Micronoc. The EPC export contract is for 10MW ESS supply that is worth US$18 million. 

Enerzent Um Joo-ho (left), Micronoc CEO JK Kim and Byucksan Power US Office Director Jung Sung-wook

“The deal will be an opportunity for us to expand the renewable energy business both in Korea and abroad and will also help us change our business focus from LCD module manufacturing to energy management,” said Enerzent CEO Um Joo-ho.

Enerzent, formerly GemVax Technology, is mostly engaged in the manufacturing of LCD display modules. Micronoc, which was established in 2016, is specialized in building-to-grid energy demand management business.

Micronoc was one of the four companies including Tesla, which won an ESS bid in June for a project of PG&E, one of California’s top three power utility companies.

The company noted that this project a new type of business utilizing a method of collecting ESS of buildings and factories and then selling it to California Independent System Operator. It will commence commercial operations in Silicon Valley after commissioning tests from October 2019.

By Park Han-na (hnpark@heraldcorp.com)