Equinor strengthened in the energy storage sector with a minority stake in a battery specialist already backed by Siemens.

The Norwegian oil and gas group’s Equinor Energy Ventures arm took the undisclosed stake in Micropower Comerc, a Brazilian 'storage as service' provider that supplies battery systems to commercial and industrial customers in sectors such as mining, retail and healthcare.

The systems can be linked with solar and other renewables to replace diesel generation, charging when power prices are low and discharging during peak pricing periods, said Equinor, which joins existing investors Siemens Financial Services and Comerc Energia, a Brazilian energy services group.