Shell buys German battery maker Sonnen

  • News Digest
LONDON

Feb 17, 2019-

Anglo-Dutch oil giant Royal Dutch Shell agreed on Friday to buy German rechargeable battery maker Sonnen, as the sector eyes growing demand for cleaner energy. Shell, which already invested in the German start-up in May 2018, revealed in a statement that it will buy 100 percent of Sonnen for an undisclosed amount. Sonnen, which makes lithium-ion batteries for storing wind and solar power, was founded in 2010 and has since grown rapidly to become a dominant player in Europe. “Sonnen is one of the global leaders in smart, distributed energy

storage systems,” said Mark Gainsborough, executive vice president of Shell’s New Energies division. “Full

ownership of Sonnen will allow us to offer more choice to customers seeking reliable, affordable and cleaner energy. (AFP)

Published: 17-02-2019 11:59

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