Formosa Smart Energy today officially announced the signing of a Memorandum of Understanding (MOU) with GE Vernova to establish a strategic alliance focused on hybrid power and energy storage solutions. This collaboration will leverage both parties’ expertise and resources in battery energy storage and gas-fired power generation to collaboratively develop a more resilient and efficient energy system for Taiwan. This collaboration represents a significant milestone, marking a powerful alliance between two industry leaders from Taiwan and the United States. It also serves as a critical foundation for advancing and implementing key energy storage technologies in Taiwan, accelerating the nation's energy transition and enhancing grid stability.

The MOU signing ceremony was held at Formosa Smart Energy’s facility in the Changhua Coastal Industrial Park — the largest lithium iron phosphate (LFP) cell and module manufacturing plant in Taiwan. The event was attended in person by Formosa Smart Energy Chairperson Sandy Wang and Eric Gray, President and CEO of Gas Power at GE Vernova, underscoring the strong commitment and long-term strategic vision both parties bring to the collaboration. By focusing on cell production, module manufacturing, and system integration from Formosa Smart Energy, and focusing on energy storage equipment, engineering services, and technical support from GE Vernova two companies will pursue for business collaboration opportunities and further aim to jointly advance hybrid power and energy storage solutions tailored to meet the growing demands of Taiwan’s energy market.

Sandy Wang noted that global cumulative energy storage installations are projected to reach 790 GW/2,400 GWh by 2030. Despite uncertainties in the global economic and trade landscape, energy independence and power stability remain top priorities for nations around the world. Energy storage systems are essential for enabling the widespread adoption of renewable energy and enhancing grid flexibility. As global battery technologies continue to evolve along diverse pathways, lithium iron phosphate (LFP) has emerged as a mainstream solution. From the outset, Formosa Smart Energy has strategically focused on LFP technology, leveraging its technological expertise and resource integration to gain a competitive edge. The company’s cell manufacturing facility has already achieved stable mass production, with an initial focus on serving Taiwan’s domestic market—demonstrating a firm commitment to the localization of the battery supply chain. This collaboration with GE Vernova further strengthens the capabilities of both companies and injects long-term momentum into the development of Taiwan’s energy storage industry.

GE Vernova spun off from General Electric on April 2, 2024 to create a purpose-driven company focused on meeting the growing demand for energy. The company provides advanced technologies and solutions across the energy value chain to help electrify and decarbonize the world’s energy systems. Taiwan represents a key market for renewable energy and energy storage deployment, and the collaboration with Formosa Smart Energy highlights GE Vernova’s growing footprint in the Asia-Pacific region and its alignment with efforts to build long-term, localized energy resilience.

Formosa Smart Energy General Manager Hui-Chi Liu stated that following the signing of the MOU, the first phase of collaboration will focus on deploying a domestically developed energy storage system at the cell and module facility. This system will serve as a technical validation and demonstration site, integrating both companies’ core technologies to deliver a high-safety, high-performance, and high-reliability energy storage solution. It is expected to become a reference model for future collaborative projects and a successful example of international cooperation.

Formosa Smart Energy is committed to advancing Taiwan’s new energy industry by developing domestically produced LFP battery cells, establishing large-scale battery module manufacturing capabilities, and independently designing battery management systems. With a comprehensive range of technological resources, the company has built a long-term and resilient supply chain from upstream to downstream. This strategic alliance with GE Vernova will further solidify Taiwan’s pivotal role in energy storage development and reinforce the blueprint for a sustainable and resilient energy future.