CCI Acquires Majority Stake in European Battery Storage Company S4 Energy BV
London, United Kingdom
Castleton Commodities International LLC ("CCI") announced today that a subsidiary has acquired a majority stake in S4 Energy BV ("S4 Energy"), a company that develops, owns and operates large-scale energy storage systems.
Based in the Netherlands, S4 Energy builds hybrid storage systems by combining grid-scale lithium-ion batteries together with the company's proprietary KINEXT flywheel technology. S4 Energy has an operating portfolio of 25MW in the Netherlands and a project pipeline across various stages of development and construction. The company targets building more than 300MW of long-duration storage assets over the next 3 years throughout Western Europe.
"We are pleased to partner with S4 Energy as a shareholder and look forward to working closely with them to develop the company into a pan-European platform of scale. This investment reflects our conviction that energy storage will be a key enabler of decarbonization, while maintaining the stability and reliability of the power grid in Europe," said Mohit Singh, Vice President in CCI's European Principal Investments team.
Leo Visser, CEO of S4 Energy, said, "We are very excited and proud to welcome CCI as a majority shareholder. With their international network, expertise and access to capital we will be able to accelerate the deployment of our grid connected energy storage projects significantly and we can promote the added value of our proprietary KINEXT storage technology in other applications as well.