Scots power giant acquires German energy storage maker for £40m

Aggreko – the Dumbarton-based, multi-national temporary heating and cooling equipment supplier – has taken over a German battery-storage manufacturer in a £40 million cash deal.

In calendar year 2016, Younicos generated revenues of £7 million but made an operating loss of £15 million, with gross assets standing at £20 million.

Chris Weston, Aggreko Chief Executive, explained: “As energy markets continue to decarbonise, decentralise and become more digital, the integration and control of multiple energy sources, including thermal and renewable, will be essential to ensure the provision of reliable power.

“As a pioneer of smart energy solutions based on battery storage, Younicos is at the forefront of this trend.

“Together we are a powerful combination; our scale, fleet and global presence, coupled with a smart energy capability, will allow us to open up new markets and provide our customers around the world with a reliable, cheaper and cleaner source of energy.

“The Younicos integration and control systems, combined with batteries, can be deployed across our existing business to lower the cost of energy, ensure reliability and reduce carbon emissions for our customers around the world.”

Younicos has invested heavily in R&D since it was founded in 2005. It is based in Germany and the USA and has over 200 MW of installed storage systems.

Its chief executive, Stephen Prince, will report directly to Chris Weston at Aggreko, which has a network of depots, service centres and offices in more than 100 countries around the world,

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