Shell has completed the sale of Sonnen , a German manufacturer specializing in residential batteries and solutions for small businesses, ending an investment that began in 2019. The new owner is Tiven , a family office led by Gert Purkert, who is also the founder of Aurelius.
The oil company confirmed that the deal has been finalized, although neither party disclosed the price. The German press indicates that Sonnen was sold for a few hundred million euros , considerably less than the expectations surrounding the process when Shell began searching for a buyer in 2023.
The Handelsblatt had estimated Shell's investment in the company at around €500 million . The same publication now suggests that, considering subsequent investments, the sale could have resulted in significantly larger losses for the oil company. However, there is no official figure available to determine the financial outcome of the transaction.
“ This step supports our ongoing efforts to optimize our portfolio. We are convinced that Tiven and Aurelius Water Rise are well positioned to support the future development of Sonnen ,” a Shell spokesperson told pv magazine after confirming the transaction.
The sale concludes a process that had been underway for nearly three years. In 2023, Shell announced its intention to divest itself of Sonnen, either partially or completely, and began searching for a new investor or majority shareholder.
Now, Tiven takes control of a company that built its position around behind-the-meter storage systems , combining batteries for homes with energy management tools and distributed resource aggregation models.
The change of ownership also marks the end of a seven-year period in which Shell sought to integrate these capabilities into a considerably broader energy portfolio.
One of Sonnen's key projects during that period was the development of virtual power plants (VPPs) . The model allows for the aggregation of multiple residential batteries and their coordinated management to provide flexibility and other services to the electrical grid.
The company took this strategy beyond Germany and made particular progress in the United States, where it deployed distributed resource aggregation infrastructure in Utah.
The approach allowed individually installed equipment in homes to work in a coordinated manner, expanding the role of domestic storage beyond self-consumption and turning it into a resource capable of participating in grid management.
A new chapter for Sonnen outside of Shell
The change in ownership now leaves Tiven with the challenge of defining the next phase of growth for the German manufacturer. For the time being, the new owner has not publicly released a detailed roadmap for the company.
Tiven operates as a family office and international asset manager, with a presence in Germany. Its central figure is Gert Purkert , founder of Aurelius and former consultant at McKinsey, while Aurelius WaterRise is linked to advising on future transactions.
The transaction also comes amid a broader portfolio optimization process at Shell , according to the company itself, which has been reviewing where it concentrates capital and which businesses maintain priority within its strategy.
For Sonnen, the operation means returning to the control of a financial investor after having belonged for seven years to one of the largest international energy groups.
The business will continue to face the challenge of capturing value in a residential market where batteries are no longer solely a complement to photovoltaic installations. Aggregation, flexibility, and the participation of distributed assets in electricity markets are increasingly linked to the viability of these models.
With the sale now finalized, Shell leaves behind its direct stake in Sonnen and its residential storage platform , while Tiven takes on the challenge of developing the company and defining how far it can scale its virtual battery and power plant business.