Shell has agreed to acquire 100 percent of Sonnen, a leader in smart energy storage systems and innovative energy services for households. This follows an investment by Shell in May 2018 and means that following regulatory approval and completion, Sonnen will become a wholly owned subsidiary of Shell.
Courtesy of Sonnen
“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,” Mark Gainsborough, Executive Vice President New Energies at Shell, said.
Sonnen offers smart energy storage to customers and offers digital energy services via its SonnenCommunity platform. Sonnen has been a pioneer in the energy market by combining its technology with new business models for a decentralized 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.
Christoph Ostermann, Chief Executive Officer and Co-Founder of Sonnen, said, “Shell New Energies is the perfect partner for helping us grow in a market that is expanding rapidly. Shell will help drive the growth of sonnen to a new level and help speed up the transformation of the energy system.”
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.