If you need to know about batteries; you’ve come to the right place Chinese flag 点击这里访问我们的中文网站 Chinese flag

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”.

The full story is only available in our FREE weekly industry newsletter, so sign-up to get it delivered to your inbox every Monday.