Shell to acquire home energy storage company sonnen

Pending regulatory approval, Shell will acquire 100% of sonnen, a German manufacturer of energy storage systems for homes and small business. Shell previously invested in sonnen in May 2018.

sonnen manufactures smart energy storage systems and offers energy services via its sonnenCommunity platform. In December 2018, sonnen put into operation a virtual power plant composed of a network of its home energy storage systems across Germany. Grid operators can use the network to help balance electricity supply and demand on the power grid.

Shell hopes that the agreement will accelerate the companies’ ability to offer integrated energy services and EV charging solutions, as well as grid services based on sonnen’s virtual battery pool.

Shell VP Mark Gainsborough said, “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.”

 

Source: Shell