What is Noriker Power?

Noriker Power, headquartered in Gloucester, UK, is a company that has developed and constructed over 250 MW of battery storage across the UK and has a near term pipeline in excess of 500 MW in battery storage, hybrid energy, and stability service projects.

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 owns Noriker shares?

As part of the agreement, Equinor will buy the shares currently held by another investor: Gresham House Plc and Gresham House Energy Storage Fund Plc (together owning 15% of Noriker). Media contact: SOURCE: Equinor ASA

What will Noriker do with Equinor?

Noriker will use the investment from Equinor to enhance its project development platform, including engineering development, control systems innovation and algorithmic optimisation.

What makes Noriker a successful battery developer?

Since its inception as the first commercial grid-scale battery developer, Noriker has proved a resilient player in the sector, successfully navigating the shifting market opportunities and regulatory landscape, thanks to its technically adept and entrepreneurial team.

Will Equinor acquire Noriker?

The agreement includes an option for Equinor 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.