From Utility Dive

French oil and gas company Total has made an offer to acquire battery company Saft.

The Saft acquisition would give Total an entry point into the fast growing market for energy storage. Saft produces devices for the stationary storage industry, as well as for transport and other applications. The company’s products include the Intensium Max Lithium-Ion containerized storage solution, which it has deployed to numerous recent grid-connected and off-grid projects in regions including installations in Hawaii and Puerto Rico.

The company also makes residential systems and recently deployed a project to store energy from regenerative braking on trains serving metropolitan Philadelphia.

Saft’s board unanimously recommended shareholders tender their shares. The offer is subject to French regulatory approval. In 2011, Total took a 60% stake in SunPower.

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