US$9.4 million Invested in Sonnenbatterie for Distributed Storage

December 07, 2014 by Jeff Shepard

Sonnenbatterie GmbH announced the closing of a $9.4 million round of equity financing led by new investors Chrysalix SET and Munich Venture Partners (MVP). The investment round also included follow-on financing by prior investor eCAPITAL. The company has sold close to 4,000 units of its intelligent energy storage system to home owners, farmers and businesses since entering the market in 2011. Coupled with a solar energy system, the Sonnenbatterie can meet various electricity demands of residential owners.

"This latest round of financing in Sonnenbatterie signals the growing importance of lithium storage systems in the global energy market. We look forward to working with our new financing partners in Europe and the US to expand the reach of Sonnenbatterie to new markets," said Christoph Ostermann, Managing Director of the Sonnenbatterie GmbH.

Aside from Germany, Sonnenbatterie is also represented in Austria, Switzerland, Italy, Luxembourg and Slovakia. In 2014, the company began sales operations in the United States where it is actively recruiting channel partners to serve as Sonnenbatterie Centers.

"Munich Venture Partners is firmly committed to supporting promising companies with high growth potential like Sonnenbatterie. We are confident that the Sonnenbatterie will play a crucial role in the energy infrastructure both nationally and internationally," said Dr. Sönke Mehrgardt, Partner and Managing Director, of MVP.

Rene Savelsberg, CEO and Managing Director of Chrysalix SET, said, "The global energy supply is changing rapidly, bringing with it enormous new market opportunities. Distributed energy storage is a key element fueling that change. We are impressed by the maturity of the technology and the rapid growth of Sonnenbatterie and are delighted to be able to play a role in funding its future growth.”

Dr. Paul Josef Patt, Managing Partner and CEO of eCAPITAL added, "As lead investor, we welcome the participation of our new co-investors MVP and Chrysalix SET. Their expertise, networks, and financial investment will help accelerate and secure the expansion of Sonnenbatterie both at home and abroad.”

The market for electricity storage has grown dramatically in recent years and is projected to continue. In this environment, Sonnenbatterie GmbH has doubled sales since 2012 every year, and plans to continue this trend in the future.