Sonnen receives a further USD 85 investment

first_imgSonnen receives a further USD 85 investmentThe German company announced that it has secured USD 85 million in growth capital, some of which came from two new partners, which will help the company consolidate its healthy position further in the booming energy storage market. October 17, 2016 Sam Pothecary Energy Storage Finance Installations Markets Markets & Policy Technology Technology and R&D Share Times are looking good for the energy storage industry, and particularly for German energy storage company Sonnen, who has been significantly growing its market share over the last couple of years. The world is looking towards energy storage as the key for renewable energy, especially solar, integration into the energy mix, which is why Sonnen wants to seize the opportunity to expand its growth trajectory.The new investment of USD 85 million came from the company’s most recent financing round, which has just been completed. Interestingly, two new investors have decided to take stakes in Sonnen, international technology company Envision Energy, and former CEO and ex-Chairman of Allianz Capital Partners, Thomas Putter.“The future of energy is clean, decentralised and digital,” said Lei Zhang, CEO of Envision Energy. “With its Sonnen Community platform and smart sonnenBatterie technology, Sonnen already demonstrates how our energy infrastructure will look tomorrow. We were impressed by their proven capabilities, their rapid growth and the high level of continuing innovation in the energy space.”The reason that Sonnen was looking for fresh investment was to continue to build on its impressive growth trajectory. It wants to deepen its position in the German market, but also expand its business in the U.S., U.K., Australia, and Italy.“We want to become the energy supplier of the future. Fast growth and leadership in innovation are the keys to reaching this goal,” commented Christoph Ostermann, CEO of Sonnen Group. “With Envision Energy, we have gained a strategic investor who shares our vision, supplements our technology and has a strong presence in both the U.S. and Asian markets.”Popular content Submarine cable to connect 10.5 GW wind-solar complex in Morocco to the UK grid Emiliano Bellini 22 April 2021 pv-magazine.com UK-based Xlinks is planning to build 10.5 GW of wind and solar in Morocco and sell the power generated by the huge plant in the UK. 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