Shell to acquire battery firm sonnen

By Liam Stoker
Share on linkedin
LinkedIn
Share on twitter
Twitter
Share on reddit
Reddit
Share on facebook
Facebook
Share on email
Email
The deal comes less than a year after Shell’s initial investment in sonnen. Source: Sonnen

Shell is to acquire German battery storage manufacturer sonnen in a bid to accelerate its home energy services position.

Sonnen is to sit as a wholly-owned subsidiary of Shell should the acquisition clear regulatory approvals, and the deal comes less than a year after Shell made an investment in the battery firm.

The companies said the deal stood to accelerate their respective abilities to provide integrated energy services and electric vehicle charging solutions to homes, while also benefitting the provision of grid services via sonnen’s virtual power plant platform.

Mark Gainsborough, executive vice president for new energies at Shell, said full ownership of sonnen would allow it to offer customers more choice over their energy consumption.

“Together, we can accelerate the building of a customer-focused energy system in support of Shell’s strategy to offer more and cleaner energy solutions to customers.”

Shell’s interest in catering for consumers’ home energy needs is well documented and has escalated since it acquired independent supplier First Utility in December 2017.

Its New Energies unit has also become home to a host of other decarbonised and decentralised energy investments over the last few months including solar developers Silicon Ranch and Cleantech Solar and Dutch EV group NewMotion.

Christoph Ostermann, chief executive and co-founder at sonnen, said: “Shell New Energies is the perfect partner for helping us grow in a market that is expanding rapidly. With this investment we’re excited to help more households to become energy independent and benefit from new opportunities in the energy market. Shell will help drive the growth of sonnen to a new level and help speed up the transformation of the energy system.”

No financial terms of the deal have been disclosed.

Read Next

January 24, 2022
The year has gotten off to a frenetic start, with plenty of news from the global solar and energy storage sectors to digest on the January 2022 episode of the Solar Media Podcast.
January 24, 2022
Spanish solar company Soltec Power Holdings, through its subsidiary Powertis, has sold a controlling stake in 421MW of its solar PV projects and 90MW of energy storage in Italy to German investment firm Aquila Capital under a co-development agreement.
January 20, 2022
The engineering, procurement and construction (EPC) team at international construction firm Burns & McDonnell has brought online 60MWh of battery energy storage systems (BESS) in West Texas.
January 20, 2022
Hydrostor CEO Curtis VanWalleghem talks advanced compressed air energy storage and how Goldman Sachs Asset Management came to invest US$250m in his company.
January 18, 2022
Two battery energy storage system (BESS) projects in the county of Yorkshire, northern England, have been acquired by Catalyst Capital, a European real estate investor, and Israel-headquartered renewable energy independent power producer (IPP) Econergy Renewable Energy.

Most Popular

Email Newsletter