ARENDAL, NORWAY: Arendals Fossekompani ASA introduced the acquisition of a majority stake in Commeo GmbH, a German firm specializing in energy storage and energy administration solutions, as a half of the Ampwell growth strategy. The events have agreed to not disclose the transaction price.
“Energy storage is key in an more and more volatile energy system the place intermittent wind and photo voltaic energy is launched whereas coal, gas and nuclear energy are phased out. Commeo fits well into our portfolio of companies within the energy technology space and turns into an important piece of our new battery-centered idea called Ampwell,” says Ørjan Svanevik, CEO of Arendals Fossekompani.
Arendals Fossekompani has entered into an settlement to purchase 54.9 per cent of Commeo, a German energy storage and energy administration specialist. Headquartered in Wallenhorst, Commeo employs 50 people and reported revenues of EUR 3.5 million in 2021. The firm is on a strong growth trajectory and plans to construct a brand new factory.
Commeo provides options for commercial and industrial energy storage by manufacturing battery modules and rack systems, together with administration units and software program for monitoring and data logging. An instance of how Commeo systems are used is ‘peak-shaving’ energy consumption, which is to make use of energy from the battery racks throughout peak price periods to keep away from steep tariffs charged by the energy system operators.
Established in 2014, Commeo has developed its proprietary energy storage system and is now in a place the place the product can be manufactured on an industrial scale. The manufacturing course of and capability will enhance considerably with new manufacturing facilities, the place construction will begin later this year. Commeo systems typically vary from 50 kWh to 1 MWh, however the modular plug-and-play setup permits for even bigger systems.
“Commeo’s battery system is modular and therefore scalable from kW to MW scale, which makes it appropriate not just for commercial and industrial use, however additionally for utility-scale applications. Commeo will support each industrial clients and the energy grid itself,” says Torkil Mogstad, Executive Vice President of Arendals Fossekompani and accountable for constructing Ampwell, a brand new battery-centered firm recently established in Arendals Fossekompani.
With Commeo as a key constructing block, Ampwell will mix hardware from Commeo with competence and technology from AFK portfolio companies Volue and EFD Induction, in addition to start-up Cellect Energy, to construct an eco-system for battery technology and a Battery-as-a-Service enterprise model.
“The battery system of Commeo is compliant with the highest requirements for functional safety, which permits the system to be positioned in a human environment. Usually, battery systems require a separate battery room or should be positioned outdoors,“ says Mogstad.
“We have excessive ambitions for our battery storage enterprise and aim to become a number one service supplier in a European market that’s anticipated to see tremendous growth the subsequent decade. Through Ampwell, we hope to be an even bigger a half of the energy solution in Europe, whereas creating substantial shareholder worth for Arendals Fossekompani’s investors,” says Svanevik.
Arendals Fossekompani (AFK) is a green-tech funding firm that owns energy-and technology-related companies which allow the transition to a inexperienced economy. AFK operates globally in a number of future-oriented industries, together with 3D printing, algo trading, satellite tv for pc services, battery- and photo voltaic technology, software, and digitization. Established in 1896, AFK has been a proud producer of renewable hydro energy for greater than 100 years. The firm is headquartered in Arendal, Norway and listed on the Oslo Stock Exchange. www.arendalsfossekompani.no
Commeo GmbH is a fast-growing firm that units new benchmarks in a single of many most important future applied sciences with its high-performance, innovative, and individually tailor-made energy storage and energy administration solutions, developed by German researchers and engineers and manufactured in house. The newest lithium-ion battery technology built-in into well proven, effectively air-conditioned housings, mixed with the highest security requirements and a modular design, enables completely matched and on the identical time convertible systems for a variety of applications in all areas of industry, from manufacturing to energy supply. www.commeo.com