Finnish marine and power technology firm Wärtsilä has ended an 18-month long strategic review of its Energy Storage and Optimisation (ES&O) business, a process which could have led to the firm divesting it.

Wärtsilä’s Q1 net sales in its energy storage and optimisation (ES&O) business division fell 75% year-on-year, with revenues to be recognised as projects move toward completion later in the year.  

Wärtsilä’s decision to launch a strategic review of its energy storage & optimisation (ES&O) business, including potential divestment, may be because of its dilutive effect on the broader company’s margins, an analyst told Energy-Storage.news.

Power technology firm Wärtsilä has initiated a strategic review of its energy storage and optimisation (ES&O) business, with “all potential alternatives considered” including divestment.

Johnson Controls has sold off its power business, including its design and production of automotive batteries, to focus on management solutions for buildings and HVAC systems for industrial customers.