Envision Energy backs battery co Sonnen in large funding round

sonnenBatterie eco compact. Source: sonnen, Inc. License: All Rights Reserved.

October 17 (SeeNews) - German energy storage specialist Sonnen GmbH has raised USD 85 million (EUR 77m) in its latest financing round, introducing two new shareholders with global experience in the green energy sector.

Chinese wind turbine and intelligent energy software company Envision Energy and renewable energy technology investor Thomas Putter, also an ex-CEO and ex-Chairman of Allianz Capital Partners, participated in the round alongside existing Sonnen investors such as GE Ventures. The amount raised will allow the German company to further expand its product portfolio and to grow further its global footprint in Australia, Italy, the USA and the UK, Sonnen said today.

“With Envision Energy, we have gained a strategic investor who shares our vision, supplements our technology and has a strong presence in both the US and Asian markets,” said CEO Christoph Ostermann.

On Sunday Bloomberg cited Ostermann as saying that Sonnen may proceed with an initial public offering (IPO) in one or two years.

The company aims to be “the energy supplier of the future” with its solar-plus-storage systems and products such as the energy sharing platform sonnenCommunity. SonnenCommunity combines decentralised renewable power generation, advanced battery storage technology and digital networking to allow members to trade the clean power they produce and be even more independent when it comes to energy supply.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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