1. Statoil Invests in Energy Storage Developer Convergent Energy + Power

    Statoil Invests in Energy Storage Developer Convergent Energy + Power

    A corporate venture fund set up by oil and gas company Statoil has invested in North American energy storage developer Convergent Energy + Power. Norway-headquartered Statoil set up the US$200 million energy investment fund Statoil Energy Ventures in February this year. The fund is dedicated to renewable energy and the low carbon transition as the parent company seeks to add clean energy technologies and projects to its portfolio alongside its more traditional business areas in fossil fuels.

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    1. Ultimately, the success of this emerging sector will depend on our collective efforts to define, deliver, and monetise the value energy storage creates. Working with Statoil enhances our ability to execute on existing projects, as well as reach new customers.
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