Shell falls in love with sonnen batteries
The British-Dutch oil and gas company has increased its existing stake in German company sonnen to full ownership.5 Mar 2019 Roland Freist
Following Shell’s investment in Swabian home battery manufacturer sonnen in May 2018, sonnen has now announced in a press release that it is to become a wholly owned subsidiary of Shell. The purchase price has not been disclosed. The antitrust authorities have still to approve the acquisition.
sonnen is one of the global leaders in smart energy storage systems, for which the company uses exclusively lithium iron phosphate batteries (LiFePO4). The company recently put into operation Germany’s biggest virtual battery, which is based on a network of home electricity storage systems across the country.
Shell has acquired or invested in a number of companies in the field of alternative energies in recent years, including Ionity , the charging network operator for German car manufacturers, and New Motion and Greenslots , both specialists in charging station technology.
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