Shell helps sink $70m into Sonnen

May 25, 2018 • Robert Lavine

Energy storage and management technology provider Sonnen has formed a cooperation agreement with Shell, which led its latest round.

Germany-based energy storage system developer Sonnen completed a €60m ($70m) financing round on Wednesday led by Shell Ventures, oil and gas supplier Shell’s corporate venture capital arm.

The identities of the other participants in the round were not confirmed, but Sonnen CEO Christoph Ostermann said in a statement that it received backing from all its investors.

Formerly known as Sonnenbatterie, Sonnen has created a home energy storage and management system designed to work in tandem with solar panels. It also…

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