Mentioned:
Ford is coming after the opportunity in battery energy storage systems. Which is exactly why they’ve just cut a new deal with a global utility giant.
What’s happening:
- Ford (NYSE: F) has landed a new deal for their wholly owned subsidiary Ford Energy with French electric utility giant EDF
Why it matters:
- This is the first ever large scale commercial deal that Ford Energy has landed since being launched
Going deeper:
- Ford just recently made waves when they unveiled Ford Energy’s initial flagship product known as the Ford Energy DC Block which is a 20 foot containerized battery system that uses lithium iron phosphate prismatic cells
- The new deal allows EDF to purchase 4 gigawatt-hours of battery energy storage systems from Ford Energy annually for the next five years which will be deployed throughout different grid scale storage projects being developed by EDF in the United States
The fine print:
- Ford has publicly stated they will not begin deliveries of their battery energy storage systems to EDF for at least two years
