Shell enters home energy storage market with German acquisition

The announcement comes less than a year after the oil and gas giant made an investment in sonnen

Oil and gas giant Shell is buying a German provider of smart energy storage systems and energy services for households.

It has agreed to acquire 100% of sonnen, which was founded in 2010 and is said to have become one of the largest manufacturers of home energy storage systems in Europe.

The company has installed more than 40,000 battery packs, produced in its three factories in Australia, Germany and the US.

The announcement comes less than a year after Shell made an investment in the company as part of its ‘New Energies’ programme.

Mark Gainsborough, Executive Vice President for New Energies at Shell said: “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.

“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.”

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