Innogy
{{short description|German company}}
{{About|the renewable energy subsidiary of E.ON|the British company formerly named Innogy plc|npower (United Kingdom)}}
{{Expand German|date=April 2020|Innogy}}
{{Infobox company
| name = Innogy SE
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| type = {{lang|la|Societas Europaea}} (SE)
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| industry = Electricity
| fate = Acquired by E.ON
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| founded = {{Start date and age|2016|04|01|df=yes}}{{cite news | url =http://www.windpowermonthly.com/article/1389666/rwe-renewables-subsidiary-launched | title = RWE renewables subsidiary launched | work = Windpower Monthly | date = 2016-04-01 | access-date = 2016-10-08}}
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| defunct = 2020
| hq_location_city = Essen
| hq_location_country = Germany
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| key_people = Uwe Tigges (CEO)
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| revenue = €36.98 billion (2018)
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| num_employees = 42,904 (2018)
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| owner = E.ON
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| website = {{URL|www.innogy.com}} (redirects to E.ON)
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Innogy SE was an energy company based in Essen, Germany. It is now merged and integrated into German energy company E.ON.{{Cite web|title=innogy incorporated into E.ON Group|url=https://www.eon.com/en/about-us/media/press-release/2020/2020-06-02-innogy-incorporated-into-eon-group.html|access-date=2020-10-20|website=E.ON |date=2020-06-02 |language=en}}
History
The company was created on 1 April 2016, by splitting the renewable, network and retail businesses of RWE into a separate entity.{{cite news|url=https://www.ft.com/content/43ac3a86-8c6c-11e6-8cb7-e7ada1d123b1 |url-access=subscription |first1=Guy|last1=Chazan|title=Lacklustre market debut for Innogy|newspaper=Financial Times|date=2016-10-07|access-date=2016-10-08}}{{cite news| url = http://www.dw.com/en/rwe-renewables-spinoff-innogy-volatile-in-market-debut/a-35986560| title = RWE renewables spinoff Innogy volatile in market debut|work=Deutsche Welle|date=2016-10-07|access-date=2016-10-08}} The new entity combined RWE subsidiaries RWE Innogy, RWE Deutschland, RWE Effizienz, RWE Vertrieb and RWE Energiedienstleistungen.
On 7 October 2016, it was listed at the Frankfurt Stock Exchange. They served 23 million customers in Europe. In November 2017, it was announced that Innogy was looking to merge its energy retail subsidiary npower in the United Kingdom, with the equivalent division of rival SSE.{{cite news|last1=Vaughan|first1=Adam|title=SSE and npower in talks to create giant UK energy supplier|url=https://www.theguardian.com/business/2017/nov/07/sse-npower-talks-merged-energy-supplier|access-date=8 November 2017|work=The Guardian|publisher=Guardian Media Group|date=7 November 2017}}
It was planned that Innogy shareholders would own 34% of the demerged entity,{{cite news|last1=Thomas|first1=Nathalie|title=SSE and Npower agree to combine household supply businesses|url=https://www.ft.com/content/44178f93-4cc3-336f-ac46-99fbaf47f56b|access-date=8 November 2017|work=Financial Times|publisher=The Nikkei|date=8 November 2017}} however, the deal fell through, and in November 2019, it was announced that npower would ultimately be wound down following the acquisition of Innogy by E.ON.{{Cite web|last=Thurston|first=Alban|date=2020-05-13|title=Eon doubles revenues, but Npower pushes UK business into loss|url=https://theenergyst.com/eon-doubles-revenues-but-npower-pushes-uk-business-into-loss/|access-date=2020-10-20|website=theenergyst.com|language=en-GB}}
In March 2018, it was announced that E.ON would acquire Innogy, in a complex deal of assets swap with RWE.{{cite news | url = https://www.ft.com/content/f6952a70-24a7-11e8-b27e-cc62a39d57a0 | title = Eon to acquire Innogy in €43bn deal with RWE| newspaper = Financial Times | first1 = Arash | last1 = Massoudi | first2 = Tobias | last2 = Buck | date = 2018-03-11 | access-date = 2018-03-11 |url-access=subscription }} The transfer of shares was completed in September 2019.{{cite news |title=Eon closes deal for Innogy shares from RWE |url=https://renews.biz/55403/eon-closes-deal-for-innogy-shares-from-rwe/ |access-date=1 December 2019 |work=ReNews |date=19 September 2019}}
The innogy brand still prevails on the Czech market as the incumbent gas supplier to households and industrial consumers. The Czech subsidiary, originally part of RWE since 2003 has been divested during merger between innogy and eon in Germany in 2020. The owner of innogy Czech is MVM, the Hungarian energy corporation. This means that the global innogy brand aspiring for another "100 years" of history has shrunk to single central European market.
eMobility
In December 2016, Innogy combined its electric vehicles related activities into a new subsidiary called innogy eMobility Solutions GmbH.
{{cite news | url = https://www.reuters.com/article/us-innogy-autos/rwes-innogy-sets-up-new-electric-vehicle-business-idUSKBN14320U | title = RWE's Innogy sets up new electric vehicle business | first = Christoph | last = Steitz | work = Reuters | date = 2016-12-14 | access-date = 2018-03-11}} It operates one of the largest charging points network in Europe, which includes 7,000 charging points in over twenty countries.{{cite news | url = https://www.reuters.com/article/innogy-deutsche-post/update-1-innogy-to-equip-deutsche-posts-dhl-with-e-charging-stations-idUSL8N1PW5UK | title = Innogy to equip Deutsche Post's DHL with e-charging stations | first1 = Tom | last1 = Kaeckenhoff | first2 = Christoph | last2 = Steitz | work = Reuters | date = 2018-02-05 | access-date = 2018-03-11}} Since September 2008, it operated in cooperation with Daimler AG test project in Berlin called e-mobility Berlin.{{cite web |url=http://www.gizmag.com/e-mobility-berlin-project-to-provide-500-ev-charging-points/9984/ |title=e-mobility Berlin project to provide 500 EV charging points |date=9 September 2008 |publisher=gizmag.com |first1=Noel |last1=McKeegan }} It also cooperated with an Italian company called Be Charge.
In July 2018, the subsidiary of the United States, innogy eMobility US, announced the acquisition of California-based BTCPower, a manufacturer of DC fast chargers and AC Level 2 chargers.{{Cite web|url=https://www.prnewswire.com/news-releases/innogy-acquires-btcpower-300675624.html|title=innogy acquires BTCPower |last=innogy|date=2018-07-02|website=PR Newswire|language=en|access-date=2021-07-05 |url-status=live |archive-url=https://web.archive.org/web/20210709191305/https://www.prnewswire.com/news-releases/innogy-acquires-btcpower-300675624.html |archive-date= Jul 9, 2021 }}
In October 2018, the acquisition of California-based Recargo, an electric mobility software company, was announced.{{Cite web|url=https://www.prnewswire.com/news-releases/innogy-acquires-recargo-inc-300722444.html|title=innogy Acquires Recargo Inc.|last=innogy|date=2018-10-02|website=PR Newswire|language=en|access-date=2018-10-06}} Recargo produces the popular PlugShare platform that helps electric vehicle (EV) drivers find public charging stations.{{Cite news|url=https://www.electrive.com/2018/10/03/innogy-takes-over-ev-software-specialist-recargo/|title=Innogy takes over EV software specialist Recargo |first1= Chris |last1=Randall |date=2018-10-03|work=electrive.com|access-date=2018-10-06 |language=en-US |url-status=dead |archive-url=https://web.archive.org/web/20181006235357/https://www.electrive.com/2018/10/03/innogy-takes-over-ev-software-specialist-recargo/ |archive-date= 2018-10-06 }}
References
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{{Portal|Germany|Energy|Companies}}
{{RWE}}
{{Authority control}}
Category:Companies based in Essen
Category:Companies listed on the Frankfurt Stock Exchange
Category:Electric power companies of Germany
Category:Renewable energy companies of Germany
Category:German companies established in 2016
Category:Renewable resource companies established in 2016
Category:2019 mergers and acquisitions