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18 02 2019 01

After having become a stakeholder in battery maker Sonnen last year, oil giant Shell is taking over to expand its residential energy storage and services. Sonnen is now to become a wholly-owned subsidiary of Shell following approval by the regulatory authorities.

The agreement is said to strengthen both companies in making “innovative integrated energy services and electric vehicle charging solutions, and the provision of grid services that are based on Sonnen’s virtual battery pool,” Shell said.

The duo has worked together on the basis of strategic cooperation in these fields before. Christoph Ostermann, CEO and co-founder of Sonnen, considers the acquisition very promising: “Shell New Energies is the perfect partner for helping us grow in a market that is expanding rapidly. With this investment, we’re excited to help more households to become energy independent and benefit from new opportunities in the energy market. Shell will help drive the growth of Sonnen to a new level and help speed up the transformation of the energy system.”

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