Is Equinor acquiring Noriker Power Limited?

Equinor has signed an agreement with Noriker Power Limited, a leading battery storage developer in the United Kingdom focusing on the engineering and project development of utility scale storage and stability services. The agreement includes the acquisition of a 45% stake in Noriker, with an option to acquire the full company at a later stage.

Who is Noriker power?

Noriker Power develops assets from inception through to operations and revenue generation. We are a vertically integrated developer and service provider, which we see as the solution to drive efficiency and quality in the fast-growing energy storage sector. Konik Mobile Batteries have successfully supported Coldplay's world tour,...

What does Equinor do with Noriker?

Equinor and Noriker enter a development co-operation agreement. The agreement includes the acquisition of a 45% stake in Noriker by Equinor, with an option to acquire the full company at a later stage. In addition to the equity investment, Equinor are granted he opportunity to directly participate in projects being matured by Noriker.

Does Equinor have a stake in Noriker?

The agreement includes the acquisition of a 45% stake in Noriker, with an option to acquire the full company at a later stage. In addition to the equity investment, Equinor and Noriker have agreed on a strategic cooperation which will grant Equinor the opportunity to directly participate in projects being matured by Noriker.

Will Equinor join Noriker in 2022?

In addition to the equity investment, Equinor are granted he opportunity to directly participate in projects being matured by Noriker. With the deal signed in December 2021, 2022 sees the partnership come to fruition, with a pipeline of new collaborative projects.