BW Group, a maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, completed a $97m investment in Ingrid Capacity, an energy storage space provider. “Energy storage solutions enable the green transition by facilitating a shift to electricity from renewable sources. Our systems balance differences in electricity production and consumption, decrease the impact of local capacity shortages and reduce volatility in the Swedish electricity market, which in turn leads to increased energy self-sufficiency and security in Sweden. When there is a deficit in the grid, the batteries can discharge electricity to balance the grid and charge in the event of a surplus on the grid. Although we believe prices for ancillary services will slow down and stabilize at European levels, increased volatility will contribute to higher revenues from arbitrage trading in the long term," Nicklas Bäcker, Ingrid Capacity CSO.