Kyon Energy
Assembly Line
TotalEnergies Acquires Kyon Energy, a Leading German Battery Storage Developer
As part of its development as an integrated power player in Germany, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement to acquire from its three founders the entire share capital of Kyon Energy, one of the leading developers of battery storage systems in the country. The consideration consists of a €90 million upfront payment, plus some earn out payments linked to the achievement of development targets.