2026-05-12
Schoeller’s GESI Gigabattery Initiative Gains Momentum
Munich / Pullach, May 12
The first days of May have once again highlighted a fundamental shift in Germany’s energy landscape: periods of significant surplus generation from solar and wind power are becoming increasingly frequent. At peak production, Germany generated 2.5 times more renewable electricity than domestic demand required.
“Capturing and utilizing this surplus energy is both an economic and environmental imperative,” said Martin A. Schoeller, initiator and co-founder of the Green Energy Storage Initiative (GESI), a platform dedicated to developing utility-scale battery energy storage systems. “Energy storage reduces dependence on fossil fuels, strengthens energy security by lowering reliance on imports, and enables renewable energy to provide reliable baseload capacity.”
Allianz Global Investors Acquires Majority Stake in GESI
The German energy storage market has now reached an important milestone. Allianz Global Investors (AllianzGI), acting on behalf of Allianz insurance companies, has acquired a 51% equity stake in GESI, the platform that develops, constructs, and operates large-scale battery energy storage systems (BESS).
“The investment by one of the world's leading infrastructure investors represents a strong vote of confidence in both our business model and our team,” said Schoeller.
GESI was established by the Schoeller Group through its innovation incubator Schoeller Ventures and, following the successful completion of its start-up phase, the shareholding has now been transferred to Schoeller Holding. Prior to GESI’s incorporation, Schoeller Ventures worked closely with the Fraunhofer Institute for Solar Energy Systems (ISE) to develop the technological and strategic foundation of the platform.
Founded by Experienced Industry Leaders
“We are extremely pleased that, within less than two and a half years, GESI has evolved into a recognized and credible player in Germany’s energy market,” Schoeller said.
He added that the strategic partnership with Allianz marks another significant milestone for the company and represents “an important signal for the energy transition.”
On 7 May, the Administrative Board of GESI SE approved a comprehensive investment program for battery energy storage projects across Germany.
Battery Storage – The Missing Building Block of the Energy Transition
According to Schoeller, utility-scale battery storage represents “the missing component required to make the energy transition both successful and economically viable.”
Battery storage systems offer substantial potential to:
- significantly reduce CO₂ emissions
- improve overall grid efficiency
- stabilize renewable electricity generation
- reduce overall system costs
- strengthen Europe's energy independence
Thanks to their attractive economic fundamentals, battery storage projects can be financed entirely by private capital without requiring public subsidies.
Former nuclear power plant sites represent particularly attractive locations for these projects, as the required high-voltage grid infrastructure is already in place—effectively transforming existing assets into a foundation for a renewable energy future under the guiding principle "Green Energy Instead of Nuclear Power."
To mobilize additional private investment, Schoeller emphasized the importance of maintaining reliable regulatory frameworks and preserving investor confidence, particularly for battery storage systems connected to the grid before 4 August 2029.
Strong Project Pipeline
The Munich-based Schoeller Group, one of Europe's oldest family-owned enterprises, founded GESI SE at the end of 2023 together with an experienced team of senior executives.
Alongside Martin A. Schoeller, the founding shareholders include:
- Walter Raizner
- Jens Michael Wegmann
- Dr. Peter Strüven
- Dr. Nikolaus von Bomhard
GESI has already secured grid connection approvals for three battery storage projects with a combined capacity of 2.6 GW, while additional large-scale projects are currently progressing through the development pipeline.
Media Contact
Schoeller Ventures
House of Circularity
Zugspitzstraße 9
82049 Pullach
Germany
✉ ventures@schoeller.org
☎ +49 (0)89 55277-0
About Schoeller Ventures
Headquartered in Munich and Pullach, Schoeller Ventures serves as the innovation incubator of the Schoeller Group, focusing on sustainable technologies with particular emphasis on green energy storage and reusable packaging solutions.
The Schoeller Group operates internationally and is one of Europe's oldest family-owned businesses. The company is led by Martin A. Schoeller and Christoph Schoeller, representing the seventh generation of family ownership.
Further information:
About GESI SE
Founded in December 2023 and headquartered in Pullach, Germany, GESI SE specializes in the development of renewable energy and advanced energy storage projects.
Its operating platform, GESI (Development & Operations), develops, constructs, owns, and operates utility-scale battery energy storage systems (BESS).
The joint venture is owned by:
- Allianz Global Investors – 51%
- GESI SE – 49%
Further information:
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