Anglo/Dutch energy giant Shell is to acquire Sonnen, which provides smart energy storage systems and services to households.
Sonnen services are delivered through the SonnenCommunity platform, which includes SonnenBatterie that optimises the use of solar power in a household and supplies energy at night using stored electricity generated in daytime.
The company also recently put Germany’s biggest virtual battery into operation, comprising a network of home electricity storage systems across the country to help balance grid power supply and demand.
Shell first made an investment in Sonnen in May 2018.
Shell executive vice president new energies Mark Gainsborough said: “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.”
Sonnen chief executive and co-founder Christoph Ostermann said: “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.”
The two companies said the deal will accelerate their ability to offer innovative integrated energy services and electric vehicle charging solutions, as well as the provision of grid services based on Sonnen’s virtual battery pool.
The acquisition is subject to regulatory approval.