french oil company total agrees to buy battery maker saft - home energy storage

Energy storage has never been the subject of more research, capital investment and business interests as experienced in the decade. With lithium-
At the forefront of electric cars and stationery batteries, batteries are popular for storing renewable energy for later use.
Today, Total, a French oil and gas company, has agreed to buy Saft, a French battery maker valued at just over $1 billion.
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Car battery supplier?
The report says that ssaft has actually rebounded a bit;
Its electric vehicle battery campaign is part of a joint venture with a large automotive company in 2006.
Parts supplier Johnson Control
The joint venture was dissolved in 2011 and JCI acquired all assets of the joint venture, except for a battery plant in Nersac, France, which restored Saft.
While the joint venture has secured some contracts for a small number of cells in early European hybrids
Including 2009 Mercedes
Mercedes 400 Hybrid
It has never been a major player in lithium.
Ion batteries for electric vehicles.
Now, Saft focuses mainly on fixed energy storage for buildings, and its CEO said the acquisition will provide it with "expertise and resources" to become a stronger competitor in the field.
Look: Tesla's biggest bet is that the energy storage battery is a "major new product" of Total CEO Patrick puyane, he said, the acquisition of Saft will "enable us to complement our portfolio with power storage solutions, a key component of the future growth of renewable energy.
"The combination of Saft and Total will make Saft a pioneer for the group in power storage," he said . ".
"The acquisition of Saft is part of Total's ambition to accelerate its development in the renewable energy and power sectors, which began with the acquisition of SunPower in 2011.
Finally, he added that "the deal will also benefit Saft and its management and staff from the technical, industrial, commercial and financial support of total" to allow "Saft" to successfully accelerate development.
"See also: Mercedes-Benz, following Tesla, will provide household energy storage batteries for home and commercial use. There is some crossover between electric vehicles and energy storage batteries, and currently only Tesla cars offer products in these two areas. Mercedes-
Mercedes also announced.
Storage Battery, delivered sometime this year.
Many analysts believe the ultimate demand for lithium
Ion batteries for various energy sources-
The storage product will equal or exceed the storage product of the plug-in
Electric vehicle industry. [
Hat tip: Brian Henderson
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