Shell buys energy storage firm

The oil major has purchased German smart battery company Sonnen, which offers an energy storage solution it claims can render consumers practically independent of electrical utilities.

Photo: PR

Shell has acquired a 100 percent share of German energy storage company Sonnen, the oil company informs in a press statement.

In May 2018, Shell purchased a partial stake in Sonnen in connection with the latter having launched a financing round that brought in proceeds of EUR 60 million. Shell has now purchased the remaining shares of the battery company.

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