Nippon Oil expands into new businesses

Nippon Oil Corp. is expanding into new energy fields with high growth potential, such as power storage systems for commercial users. The storage system combines solar panels with rechargeable batteries so solar energy can be stored for later use. The prototype is built from solar panels with the capacity to generate 11 kilowatts of power, linked to secondary batteries capable of storing 8.9 kilowatt-hours of electricity. Ultimately, the system may be installed at all of the roughly 2,000 gas stations Nippon owns in Japan. (January 22, 2009)