Rolls-Royce takes majority stake in energy storage company

The British multinational engineering firm’s interest has increased to 73.1%

Rolls-Royce has announced it will now hold a majority stake in Berlin-based energy storage company Qinous.

The British multinational engineering firm had already bought a 19.9% stake in the former start-up in October 2018, which has now increased to 73.1%.

Qinous provides smart energy storage solutions with an integrated microgrid and energy management system suited to both on and off grid applications, combining renewable energy sources, power generators and storage technology.

Rolls-Royce said the joint development work on a range of storage solutions in recent months has shown the two companies are an “excellent fit” and believes there is great market potential for sustainable power supplies, especially for distributed, environmentally-friendly microgrid solutions.

Cordelia Thielitz, Vice President of Rolls-Royce’s Microgrid Solutions business said: “The range of services and deliverables covers the needs of commercial enterprises, municipal utilities, energy suppliers and even sizeable industrial plants.

“Together with Qinous, we can offer customers a wide range of microgrid solutions consisting of different combinations of power generation and storage systems. In this way we will ensure sustainable, cost-optimised and – above all – climate-friendly power supplies, whether connected to the public grid or independent of it. The key to this is the comprehensive expertise in storage technology, the efficient integration of microgrid components and the development of intelligent control systems.”

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