Deals
TotalEnergies Buys Startups to Boost Renewable Power Drive
- Firm buys Swiss AI company, French software maker and others
- Acquisitions are valued at ‘a few tens’ of millions of euros
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TotalEnergies SE took control of four European startups to boost its power trading and energy procurement businesses, help it build wind and solar farms and expand in electric-vehicle charging.
The region’s energy majors and grid operators are splashing out on new technology and software in anticipation of an expected surge in power demand and market volatility as the shift to renewables gathers pace.