Shell expands clean energy portfolio, buys home battery supplier sonnen

first_imgShell expands clean energy portfolio, buys home battery supplier sonnen FacebookTwitterLinkedInEmailPrint分享Greentech Media:Shell will acquire German startup sonnen, staking a claim on the home energy storage market and further expanding its ever-increasing footprint in the clean energy industry.Sonnen distinguished itself in the early home storage market, with thousands of units deployed across Germany, and a notable presence elsewhere in Europe, the U.S. and Australia. Besides storing solar power for homeowners, sonnen aggregates its installations into controllable networks of grid resources.It would be hard to overstate the opportunities that arise from teaming up with a global energy giant. Shell manages a full stack of energy services, including generation, trading and customer relationships. It could integrate energy storage with a number of other services.The backing of Shell could propel sonnen to new scale and customer awareness as it competes with Tesla’s Powerwall and LG Chem’s RESU for customers that want to control their home energy.The acquisition escalates Shell’s involvement in futuristic grid startups. In just the last month, the company invested in a novel wind power venture called Makani, and acquired Greenlots, a major U.S. electric vehicle charging company.Shell first invested in sonnen in May 2018 as the leader of a $71 million round. That brought sonnen’s total funding to about $180 million. The companies did not disclose the price paid for full acquisition.More: Oil supermajor Shell acquires Sonnen for home battery expansionlast_img

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