Chile's Copec buys stake in Spanish battery developer Ampere

Chilean holding company Empresas Copec SA has made an investment in Ampere Energy SL, a Spain-based manufacturer of residential battery storage systems, acquiring a 13.5% stake and a seat on the board of directors.

Announcing the deal last week, the Spanish company said its new shareholder is seeking to strengthen Ampere Energy’s global footprint by helping it land in the Americas.

In the first phase, Ampere Energy is to focus on starting its activities in Chile and Colombia and later move on to other countries on the continent. Copec runs operations in Colombia, the Dominican Republic, Peru, Ecuador, Panama and the US.

Ampere Energy develops and makes storage systems that use artificial intelligence and big data tools to manage power generated by solar panels, as well as the electricity coming from the grid.

Spanish oil company Repsol SA (BME:REP) purchased a stake in Ampere in the first quarter of this year.

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