GE Ventures invests in Sonnen

Share

German lithium-ion battery manufacturer Sonnen has confirmed today that it has received investment from GE Ventures, one of the world’s largest technology firms.

Neither company would comment on the size of the investment, but a close pv magazine source said that the figure invested by GE was "a one digit million number", forming part of a "medium double-digit million [euros]" amount raised.

At the recent Ecosummit in Berlin, Sonnen CEO Christoph Ostermann told an audience that the company was currently seeking an investment round of up to €50 million to help the company build upon its recent successes.

More than 10,000 households globally have installed Sonnen’s sonnenBatterie system, and the firm’s sonnenCommunity – which allows customers to share their stored energy with other members of the community, and thus become independent of conventional energy suppliers – has been lauded in numerous markets.

Speaking after GE Ventures’ investment, Ostermann said: "With GE Ventures, we have not only partnered with one of the world’s largest power and water technology companies but gained a supporter for our vision of a sustainable and affordable energy future for all."

Jonathan Pulitzer, MD at GE Ventures, remarked that Sonnen is "helping to reshape the energy industry", adding that the company was attracted by Sonnen’s vision and efforts to provide affordable and clean energy for all.

Last month, Sonnen revealed that it had shipped more of its sonnenBatterie in the first quarter of the year than the much-heralded Powerwall from Tesla.