March 14 (Renewables Now) – Spanish oil company Repsol SA (BME:REP) has purchased a stake in Ampere Energy SL, the Valencia-based manufacturer of residential energy storage batteries, in a bid to expand its presence in the renewable energy sector.
Details on the size of the stake have not been provided, however, Repsol will have a seat on Ampere Energy’s board, the battery maker said Wednesday.
The investment includes a collaboration agreement between Ampere Energy and Repsol Technology Lab that will see the two companies work together on developing innovative solutions in the field of energy storage and management.
Ampere Energy designs, develops and makes storage systems that use artificial intelligence to manage energy generated by solar panels, analyse prices in the electricity market as well as users’ consumption patterns, according to the company’s website. Its decorative sphere-shaped battery for moderate energy consumers can store between 3 kWh and 6 kWh.