Shell Continues Clean Energy Spending Spree by Acquiring Limejump
Published Date | 2019 February 28
Shell’s acquisition of London based energy company, Limejump, will grow the business expansion in the energy storage sector and will propel the global battery market in forecast periods.Global: Anglo-Dutch based energy major Shell has agreed to acquire UK energy technology company Limejump. This acquisition will super-charge limejump business and enable Limejump’s technology & management to support the UK’s clean energy transition. Now limejump becomes a wholly owned subsidiary of Shell. The acquisition originates from Shell’s New Energies division, the same unit who acquired a German-based battery storage manufacturer Sonnen on 15 Feb 2019. The brand name of Shell will help to drive the innovative technology platform to new heights and also support the Limejump team to make a bigger impact on the industry as Limejump manages one of the largest portfolios of batteries in the world via its Virtual Power Plant. This agreement will also support the limejump continued mission to revolutionize the energy industry. This will offer more choices in the UK market as this accelerates the building of a customer-focused energy system in support of Shell’s strategy to offer more and cleaner energy solutions to customers. According to BlueWeave Consulting, The battery is an energy storage device capable of charging and discharging. In comparison to traditional battery technologies, the advancement in technology boosts the market of the lithium-ion battery which is more competent in providing significantly high performance. These batteries have the potential to achieve very high energy and power densities in high-density battery applications such as electronics, automotive and standby power. Rising electricity costs, reduction in system costs, preference toward the use of clean and locally generated electricity for more energy independence and limited energy resources will boost the energy storage battery market globally. Moreover, government initiatives for renewables energy, the increment in consumer awareness about the benefits of using renewables energy resources will play a major role in the growth of the battery market. The automobile sector is one of the most prominent sectors whereas the growth in the automotive sector has led to a surge in demand for electric vehicles which has also supplemented the growth of lithium-Ion batteries over the coming years. In developing countries, government and non-government organizations are spreading awareness regarding environmental pollution and its health impacts. Due to which several governments’ regulations, particularly pollution prone countries have initiated supportive policies and programs to produce and adopt electric vehicles, which is majorly surging the demand for the global battery market over the forecast span. According to BlueWeave Consulting‘s report, Titled-“ Global Electric Vehicle Battery Market, by Battery Type (Lithium-ion Battery, Lead Acid Battery, Nickel Metal Hydride Battery, and Others), by Vehicle Technology (BEV, PHEV and HEV), by Vehicle Type (Passenger Car, Commercial Car and Two Wheeler), by Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa); Size and Forecast, 2014-2025”- Global electric vehicle battery market is expected with grow with a significant rate in forecast period, 2018-2025, due to growing regulatory focus toward minimizing carbon emissions while increasing the share of renewables on the grid. Moreover, increasing demand of solar PV levels along with introduction of supportive policies and energy storage subsidies, Aging grid infrastructure and rising concerns over climate change will further fuel the global electric vehicle battery market over forecast period. According to BlueWeave Consulting‘s report, Titled-“India Lithium-ion Battery Market, By Type (Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Iron Phosphate and Others), By Components (Cathode, Anode, Electrolytic Solution, Others) By Application (Consumer Electronics, Industrial and Automotive), by Region; Size and Forecast, 2014-2025- India Lithium-ion Battery market is expected to grow with a CAGR over 23% during the forecast period 2018-2025. Increasing pollution concerns, rising adoption of electric vehicles, increasing income-levels and surging demand for quality and uninterrupted power are some of the key factors driving the growth of Lithium-ion batteries market in India. Further, rising usage of smartphones and other consumer electronics products is resulting in an increase in demand for higher energy density and faster-charging solutions. Additionally, growing consumer electronics market is complimenting the growth of Lithium-ion batteries market in India owing to its light-weight, high energy, and power capacity features. However, high cost and risk of fire in electronic devices may hinder the market growth in the coming years.