Connect with us

Hi, what are you looking for?


Clean Power

Total Completes Billion-Dollar Acquisition Of Saft

French oil major Total has announced the successful completion of its billion-dollar acquisition of leading battery designer Saft.

Total announced on its website on Monday that it now held 90.14% of Saft Groupe shares following the public tender offer initiated by Total on Saft Groupe. The public tender offer will be re-opened from July 19 to August 2, 2016, “in order to allow shareholders who have not yet disposed of their shares to do so under the same terms.”

“Total is pleased with the success of this tender offer,” said Patrick Pouyanné, Chairman and CEO of Total. “Our acquisition of more than 90% of the shares shows the confidence Saft shareholders have in our industrial project enabling Saft to accelerate its development.”

“Saft is delighted to join with Total, a major player in the energy sector, which will enable us to accelerate our development,” said Ghislain Lescuyer, CEO of Saft Groupe.

The move gives Total a significant push towards fulfilling its promise to become a top three player in the solar energy industry within the next 20 years. In April of this year, Total announced a restructuring it called “One Total.” According to the company’s press release, the new “Gas, Renewables & Power segment will spearhead Total’s ambitions in the electricity value chain by expanding in downstream gas, renewable energies and energy efficiency.” Patrick Pouyanné said at the time:

“We intend to implement a proactive strategy in gas markets to meet demand and identify new outlets for our production. The Group will also produce and sell power from renewable sources. Electricity will be the energy of the 21st century and the growth of gas and renewables is driving us to fully capture margins across the entire electricity value chain. We have several goals in this area over the next 20 years: to be one of the top three solar power players, to expand in electricity trading and energy storage, to become a leader in biofuels, especially biojet fuel, while also exploiting potential development opportunities in other renewable energies. Our ambition is to create a new business that will help make Total the responsible energy major.”

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (, and can be found writing articles for a variety of other sites. Check me out at for more.


You May Also Like


Mercedes and Volkswagen announce new EV battery factories.

Clean Transport

It is unbelievable the number of times I have read the following in comments or on social media: The carmakers or government should build...

Clean Transport

A new waste recovery scheme could add a tinge of green hydrogen to Wyoming's status as the biggest coal producer in the United States.

Clean Transport

Article courtesy of Union of Concerned Scientists. As the weather grows warmer, bears, birds, and corporate America begin to emerge from their respective hibernations....

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.