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Shell acquiring residential energy storage company Sonnen

Shell will acquire 100% of sonnen, a provider of smart energy storage systems and innovative energy services for households. This follows an investment by Shell in sonnen in May 2018 and means that, post regulatory approval and completion, sonnen will become a wholly owned subsidiary of Shell.

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.

—Mark Gainsborough, Executive Vice President New Energies at Shell

sonnen offers smart energy storage to customers and offers digital energy services via its sonnenCommunity platform. For example, the sonnenBatterie optimizes the use of solar power in a household and supplies energy at night using stored solar power generated in daytime. sonnen has been a pioneer in the energy market by combining its technology with new business models for a decentralised energy system. Recently, sonnen put Germany’s biggest virtual battery into operation. It is based on a network of home electricity storage systems across the country to help balance power supply and demand on the power grid.

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.

Comments

HarveyD

Very smart of Shell and other Oil/gas majors to move in the supply and distribution of cleaner e-energy. More competition the better?

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