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    5802   JP3407400005

SUMITOMO ELECTRIC INDUSTRIES, LTD.

(5802)
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Delayed Japan Exchange  -  02:00 2022-06-27 am EDT
1518.00 JPY   +1.71%
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Sumitomo Electric Industries, Ltd. - First time in the U.S. and Japan to Successfully Build and Operate Microgrid with Battery Storage on Actual Power Distribution Network, Strengthens Resilience of Power Infrastructure in California, USA

04/06/2022 | 08:46am EDT

The New Energy and Industrial Technology Development Organization ('NEDO') and Sumitomo Electric Industries, Ltd. have completed a demonstration project in the U.S. State of California to improve the power quality of the grid, and have successfully achieved the major deliverables such as establishment of a microgrid on a commercial power distribution network inclusive of 66 customers, operation of a large-scale stationary storage battery, the Redox Flow Battery (RF Battery), and multi-use operation in both normal and emergency situations.

The system makes it possible to earn revenue through electricity market transactions during normal operations, in addition to providing power to blackout areas or the areas that outages are assumed, as an independent power source, during an emergency such as natural disasters and planned outages. It is the first time in the U.S. and Japan that a microgrid has been operated on a commercial distribution network with the storage batteries as the main power source, bracing for a power outage.

The results of this demonstration project could be applicable to the cases with high potential demand both in Japan and abroad in the future, such as microgrids with solar and wind power facilities constructed for off-grid areas and 100% renewable energy supply is required for the islands where the transportation cost of power generator fuels is expensive.

The New Energy and Industrial Technology Development Organization ('NEDO') and Sumitomo Electric Industries, Ltd. ('Sumitomo Electric') have completed a demonstration project in the U.S. State of California to improve the power quality of the grid, and have successfully achieved the major deliverables such as establishment of a microgrid on a commercial power distribution network inclusive of 66 customers, operation of a large-scale stationary storage battery, the Redox Flow Battery (RF Battery), and multi-use operation in both normal and emergency situations.

The system makes it possible to earn revenue through electricity market transactions during normal operations, in addition to providing power to blackout areas or the areas that outages are assumed, as an independent power source, during an emergency such as natural disasters and planned outages. It is the first time in the U.S. and Japan that a microgrid has been operated on a commercial distribution network with the storage batteries as the main power source, bracing for a power outage.

The results of this demonstration project could be applicable to the cases with high potential demand both in Japan and abroad in the future, such as microgrids with solar and wind power facilities constructed for off-grid areas and 100% renewable energy supply is required for the islands where the transportation cost of power generator fuels is expensive.

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 3 321 B 24 583 M 24 583 M
Net income 2022 83 019 M 614 M 614 M
Net Debt 2022 522 B 3 860 M 3 860 M
P/E ratio 2022 14,0x
Yield 2022 3,35%
Capitalization 1 164 B 8 616 M 8 616 M
EV / Sales 2022 0,51x
EV / Sales 2023 0,45x
Nbr of Employees 286 784
Free-Float 93,8%
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Number of Analysts 8
Last Close Price 1 492,50 JPY
Average target price 1 678,75 JPY
Spread / Average Target 12,5%
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Managers and Directors
Osamu Inoue Manager-Automobile
Masayoshi Matsumoto Director
Junji Ito Executive Officer
Hiroshi Sato Independent Outside Director
Michihiro Tsuchiya Independent Outside Director
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