Major oils and Industrials invest in energy storage companies
Major oil, industrial and utility companies are investing large sums in energy storage, according to Bloomberg New Energy Finance (BNEF). Royal Dutch Shell, Total, Siemens and EON are among those to have taken positions in the stationary storage sector. However, with a limited supply of appropriate targets for investments, some corporations will have to develop technology in-house or form partnerships.
This article first appeared on the BNEF mobile app and the Bloomberg Terminal.

Oil majors, industrials and utilities investing in storage

Few standalone storage software providers remain

Energy storage competitive landscape

Source: Bloomberg New Energy Finance

Note: selected sample of players

On May 15, Finland-based power generation and marine propulsion company Wartsila acquired Greensmith Energy Management Systems, a California-based storage provider. Oil majors, large industrials and utilities have ramped up investments in storage companies with energy management system expertise over the last few years, positioning themselves to move in on the rapidly growing stationary storage space. Stem, Sunverge Energy, Advanced Microgrid Solutions and Younicos have also attracted significant VC/PE investment but have not yet been acquired. With fewer specialist companies to acquire, larger corporates will need to partner or develop this expertise organically.

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