Mitsubishi Corporation has bought a 20 percent minority stake in British power supplier OVO Energy for 200 million pounds ($257 million), the firms said on Thursday. The move signals a push for vertical integration on the part of Mitsubishi, as it already has over six gigawatts of energy assets and a strong patent portfolio (#3 corporate owner in the space) in power conversion and supply. OVO energy is an independent supplier with over 1.5 million customers, but has been making waves in electric vehicles with a smart charger, vehicle to grid system, and home energy storage. The partnership is also intended to increase development in software to support smart consumer energy use.
Direct Current Bidirectional converters are a key technology for energy storage because they can have multiple streams of DC power at varying voltages. Typically, these need to be integrated into a single current with a nominal voltage.
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Direct Current Bidirectional converters are a key technology for energy storage because they can have multiple streams of DC power at varying voltages. Typically, these need to be integrated into a single current with a nominal voltage.