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Shell tightens grip on storage with Sonnen takeover

Mon, 02/25/2019 - 00:00 -- Hugh Finzel

Fossil fuel giant Shell has acquired 100% of German battery storage firm Sonnen for an undisclosed sum.

The move comes less than a year after Sonnen raised €60 million (US$70.5m) in a financing round led by Shell.

Shell said the deal, which is subject to various regulatory approvals, aimed to “accelerate the building of a customer-focused energy system in support of Shell’s strategy to offer more and cleaner energy solutions to customers”.

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