Sharp Corp and ELIIY Power Co Ltd (ELIIY Power) have reached an agreement to collaborate on the development of a large-capacity lithium-ion battery. The parties are aiming to develop both a lithium-ion battery with enhanced storage capacity, and the cost-competitive technology required to mass-produce it.

In addition, Sharp has acquired the common stock of ELIIY Power through third-party allotment. The two companies will collaborate to commercialize the autonomy-enhanced solar power generation system, for which demand is expected to grow.

The autonomy-enhanced solar power generation system stores electricity in the lithium-ion battery. This system minimizes changes in electrical output brought on by variable weather conditions and changes to the amount of sunshine available. Electricity generated during the daytime can be used at night.