Hanwha Group, a top 10 South Korea-based industrial conglomerate, has led US-based energy storage provider Silent Power’s series B funding round with an $8m investment. The strategic partnership will bundle Hanwha SolarOne’s photo-voltaic (PV) panels with Silent Power’s distributed energy storage device, the OnDemand Energy Appliance. Charles Kim, president of Hanwha SolarOne, said: “Hanwha SolarOne is building the solar economy of the future with focused, strategic partnerships like this collaboration with Silent Power.” The ability to store energy for later use enhances the value of solar PV by stabilizing intermittent solar energy generation and reducing peak demand loads across the grid. Silent Power previously raised $4m in angel funding, according to news provider Green-Tech Media.

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