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The acquisition escalates Shell’s involvement in futuristic grid startups. In just the last month, the company invested in a novel wind power venture called Makani and acquired Greenlots, a major U.S. electric vehicle charging company. Shell first invested in sonnen in May 2018as the leader of a $71 million round. That.
The new corporate parent provides financial stability for sonnen as it continues to scale. That’s valuable, because the residential storage business is not an easy one to crack. The rise of home solar, and intermittent renewables.
Now there’s a clear path to delivering the enhanced EV charging and grid services promised with Shell’s first investment in sonnen. Greenlots, one of the major North American charging network companies, has become a corporate.
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