Shell is acquiring home energy storage company Sonnen, having previously invested in the company's fundraising round last year. The deal will see Sonnen acquire a majority stake of the company, which has been operating since 2014. The acquisition will allow the German start-up to benefit from Shell's services and customer base while enabling Shell to increase its presence in the renewable energy sector.
Shell is acquiring home energy storage company Sonnen, having previously invested in the company's fundraising round last year. The move followed Shell's acquisition of wind energy company Makani and US electric vehicle charging firm Greenlots. The acquisition will allow the German start-up to benefit from Shell's services and customer base while enabling Shell to increase its presence in the renewable energy sector.