Sonnenbatterie completes new round of financing, preps U.S. launch
Sonnenbatterie GmbH has successfully completed another round of financing for an undisclosed amount from new investor INVEN CAPITAL. Currently, the company has offices in seven countries and will present its U.S. products to the local market in July. Expansion into new markets will continue in 2016.
“Sonnenbatterie consistently focuses on growth. A rapid pace of innovation and investment into new technologies are just as necessary as the further internationalization of our markets,” said Sonnenbatterie CEO Christoph Ostermann. “We are very pleased to have a partner like INVEN CAPITAL at our side who is not only supporting our course in Europe and in the US but also recognizes the immense importance of renewable energy.”
INVEN CAPITAL specializes in investments in the cleantech sector. The firm intends to significantly expand its portfolio. Together with renewable energies they also wish to expand to energy efficiency and electro mobility.
With the new round of financing Sonnenbatterie GmbH has been able to significantly increase capital. In addition to INVEN CAPITAL other investors of Sonnenbatterie GmbH include eCapital, Munich Venture Partners (MVP) and SET Ventures.
The market for electricity storage is developing very dynamically. According to industry association BSW Solar, the number of installed storage systems in Germany has doubled within a year to 20,000. Other countries are at the beginning of this development, so market researchers expect high growth rates worldwide. Sonnenbatterie GmbH says that it has doubled its sales every year since its founding in 2010, selling about 8,000 sold storage systems.
Sonnenbatterie designs and manufactures fully integrated energy storage systems, with US headquarters in Los Angeles, Californiaand corporate headquarters in Bavaria, Germany. The Sonnenbatterie solution integrates battery cells, an inverter, and energy management software in one package that allows for extremely fast and inexpensive installation. The product offers an array of smart functions like peak shaving and remote management, and has an industry leading expected life of 10,000 charge cycles.
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