Shell To Fully Acquire Energy Storage Company sonnen
Shell Overseas Investment B.V. has agreed to acquire 100% of global energy storage company sonnen.
This deal follows Shell’s investment in sonnen last May. Now, following regulatory approval, sonnen will become a wholly owned subsidiary of Shell.
“sonnen is one of the global leaders in smart, distributed energy storage systems and has a track record of customer-focused innovation. Full ownership of sonnen will allow us to offer more choice to customers seeking reliable, affordable and cleaner energy,” says Mark Gainsborough, executive vice president of new energies at Shell. “Together, we can accelerate the building of a customer-focused energy system in support of Shell’s strategy to offer more and cleaner energy solutions to customers.”
Christoph Ostermann, CEO and co-founder of sonnen, says, “Shell New Energies is the perfect partner for helping us grow in a market that is expanding rapidly. With this investment, we’re excited to help more households to become energy independent and benefit from new opportunities in the energy market. Shell will help drive the growth of sonnen to a new level and help speed up the transformation of the energy system.”
sonnen offers energy storage, as well as digital energy services via its sonnenCommunity platform. For example, the sonnenBatterie optimizes the use of solar power in a household and supplies energy at night using stored solar power generated in the daytime.