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Repsol joins firms oiling investment in batteries

Thu, 03/14/2019 - 14:26 -- Hugh Finzel
Ampere ESS

Spanish oil company Repsol has purchased an undisclosed stake in Valencia-based manufacturer of residential battery systems, Ampere Energy.

Repsol will take a seat on Ampere’s board, but financial details of the transaction have not been revealed.

However, Ampere said the deal includes “a technological collaboration agreement… through which synergies will be generated in different projects and innovative initiatives will be developed in the field of energy storage and management”.

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