NantEnergy buys Sharp's energy systems, services ops in US

Sharp SmartStorage. Image by; Sharp (www.sharpsmartstorage.com).

November 9 (Renewables Now) - US intelligent energy storage solutions NantEnergy said on Thursday it has acquired the US energy systems and services business of Japanese major Sharp Corp (TYO:6753).

The acquired business is part of US-based Sharp Electronics Corp and is involved in the development and delivery of energy management solutions for the US market. As part of the deal, NantEnergy has become the owner of Sharp’s pipeline of over 60 MW solar-plus-storage projects in the US, as well as its SmartStorage system -- a behind-the-metre energy storage system that lowers peak energy use for commercial and industrial buildings.

NantEnergy, previously known as Fluidic Energy, said that the deal will enable it to offer “energy as a service” business models in various markets and will also help it bring to the US its zinc-air battery technology for backup and resiliency applications. In addition to expanding the company’s global reach, it also “immediately creates a foothold for NantEnergy in the US, particularly in the important California market,” added Patrick Soon-Shiong, NantEnergy’s chairman.

The entire team of the acquired business has been kept, according to the press release.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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