Shell buys out German smart storage pioneer sonnen
sonnen provides battery systems for homes that optimise the use of solar power in a household and supplies energy at night using stored solar power generated in daytime. One example is Germany’s biggest virtual battery, where sonnen used a network of home electricity storage systems across the country to help balance power supply and demand on the power grid. It currently has additiional offices in Italy, UK, Australia and the US and Shell invested $60m in the company back in May 2018.
“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,” said Mark Gainsborough, Executive Vice President 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, Chief Executive Officer and Co-Founder of sonnen, said: “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.”The agreement will accelerate the ability of the two companies to offer innovative integrated energy services and electric vehicle charging solutions, and the provision of grid services that are based on sonnen’s virtual battery pool.
Shell established its New Energies division in 2016 to work on new fuels such as advanced biofuels and hydrogen and every stage of power delivery, from generating electricity, to buying and selling it, to supplying it directly to customers, and can spend up to $2bn a year until 2020 on commercial opportunities.
Related stories:
- GERMAN BATTERY MAKER IN GLOBAL GRID MANAGEMENT DEAL
- SMART STORAGE STARTUP RAISES $85M TO BUILD A VIRTUAL POWER STATION
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