Sonnen to announce the closing of its latest financing round of €60 million, led by Shell Ventures.
"Growing faster than the energy storage market and establishing new technologies such as energy sharing and our virtual battery pool requires continued investments. We're very happy to receive the backing of all our investors and the commitment of a major global player like Shell to follow our vision of clean and affordable energy for everyone," said Christoph Ostermann, CEO of sonnen.
"The great team at sonnen has succeeded in building a market-leading position in residential storage," said Brian Davis, VP Energy Solutions at Shell. "This investment enables us to combine Shell's power business activities with sonnen's high quality, innovative products and business model to enhance our consumer energy offerings. This is in line with our strategy to partner with leading companies to deliver more and cleaner energy solutions to our customers."