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Shell Ventures

Fossil-fuel giants invest in battery storage

Thu, 05/31/2018 - 16:13 -- Xuan Zhong
Fossil-fuel giants invest in battery storage

Germany-based battery storage firm Sonnen and Israeli fast-charge developer StoreDot have secured cash boosts from the investment arms of two fossil fuel multinationals in separate deals.

Germany’s Sonnen has raised EUR60 million ($70.5m) in a financing round led by Shell Ventures— the private equity arm of oil and gas giant Shell.

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