TotalEnergies acquires German battery storage firm Kyon Energy
France's TotalEnergies said on Tuesday it had agreed to acquire the entire share capital of Kyon Energy from the German battery storage firm's three founders. The consideration consists of a €90 million ($98 million) upfront payment, plus some earn-out payments. Munich-based Kyon Energy is a leading developer of battery storage systems. Its portfolio includes a 2-gigawatt pipeline of advanced-stage projects. "This acquisition will enable us to accelerate the development of our Integrated Power a