Shell agrees to acquire German energy storage provider sonnen
The global oil company continues to branch out its energy business by investing in different technologies.
Shell has agreed to acquire 100% of sonnen, a leader in smart energy storage systems and innovative energy services for households.
“Full ownership of sonnen will allow us to offer more choice to customers seeking reliable, affordable and cleaner energy,” Mark Gainsborough, Executive Vice President New Energies at Shell, said.
sonnen offers smart energy storage to customers and offers digital energy services via its sonnenCommunity platform. For example, the sonnenBatterie optimises the use of solar power in a household and supplies energy at night using stored solar power generated in daytime.
“Shell New Energies is the perfect partner for helping us grow in a market that is expanding rapidly,” said Christoph Ostermann, Chief Executive Officer and Co-Founder of sonnen.
Shell established its New Energies division in 2016. Shell New Energies focuses on two main areas: new fuels for transport, such as advanced biofuels and hydrogen; and power, being involved at almost every stage of the process, from generating electricity, to buying and selling it, to supplying it directly to customers.
