Czech technology company Second Fundation has acquired a stake in GAZ Energy, a member of the Bochemie Group

Second Foundation is a Czech company focused on energy trading in 26 countries. The acquisition of a stake in GAZ Energy builds on a previous partnership between the two companies. GAZ Energy is engaged in the production of industrial nickel-cadmium cells and lithium-ion battery storage, with reported sales of 38 million euros and a profit of 4 million euros in 2023. Second Foundation uses GAZ Energy's storage to provide balancing services and efficient trading. Both parties have agreed not to disclose the terms of the transaction.