The entry of new investors marks Sonnenbatterie’s preparation for growth and market expansion. The investment round also included follow-on financing by eCapital, which acts as lead investor in the deal. Sonnenbatterie specialises in lithium storage systems and operates from its corporate and manufacturing headquarters in Wildpoldsried, Germany, 90 minutes from Munich.
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” said Christoph Ostermann, Managing Director of Sonnenbatterie GmbH. “We look forward to working with our new financing partners in Europe and the US to expand the reach of Sonnenbatterie to new markets.”
Dr. Sönke Mehrgardt, Partner and Managing Director, of MVP, added that his company is firmly committed to supporting promising businesses with high growth potential such as Sonnenbatterie and that the company will play a crucial role in the energy infrastructure sector both nationally and internationally. MVP is a cleantech venture capital specialist based in Munich, specialising in the provision of venture capital for high-tech start-up companies with growth-oriented and profit-generating projects. Its commitment focuses on Europe and on selected international investments.
Sonnenbatterie also has a presence 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 Centres. The market for electricity storage has grown dramatically in recent years and is projected to continue. Sonnenbatterie GmbH has doubled its sales since 2012 every year, and plans to continue this trend in the future.
Chrysalix SET is based in Amsterdam and is the management company of SET Fund I and SET Fund II venture capital funds. These are focused on European-based early growth stage technology companies that impact the future of the energy sector. The target companies typically offer a technology, product or service, and/or enjoy a competitive market position with a high upside potential, while impacting the way energy is generated, distributed (including stored) or used (efficiency).
eCAPITAL AG is based in Münster and managed by entrepreneurs. It has actively supported innovative entrepreneurs in future-oriented industries since 1999 and is focused on fast-growing companies in the renewable energy, renewable raw materials and resource-efficient process sectors along with water technology, process engineering/new materials and IT. The company currently manages five funds with subscribed capital exceeding 120 million euros and invests in businesses which are in their ‘later stage’ and ‘early stage’ phases as well as in small SMEs on a national level.
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