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Finnish industry giant buys into energy storage

The market for energy storage continues its consolidation wave with the major Finnish acquisition of a Californian growth success.

Energy storage is the new black in the energy business – depicted is an experiment from German Schneider Electric | Photo: Schneider Electric
BY

Which companies will emerge victorious in the battle to develop the smartest energy storage solutions? This question is on the minds of many in the renewable energy business, and now one of Finland's oldest and most respected manufacturers is joining the battle.

Finnish Wärtsilä has taken over the small-scale company Greensmith based in Virginia, US. The company only employs 40 people and although this may seem like a minor event for Wärtsilä, which employs 18,000 and has revenue of EUR 4.8 billion, the acquisition did draw attention in both Finnish and international press.

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