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Oil giants are competing to buy battery companies

Oil giants are competing to buy battery companies

Quartz - By Akshat Rathi

For an undisclosed sum, oil giant Shell today announced that it bought German home energy-storage startup Sonnen. This follows a $70 million investment into the firm by the oil group’s venture arm last year. Founded in 2010, Sonnen says it has installed 40,000 battery packs in homes around the world …

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