Sonnen is set to be acquired by existing investor Shell for an undisclosed sum, while General Electric, Envision Energy and Inven Capital will also exit.
Petroleum supplier Shell agreed on Friday to acquire one of its portfolio companies, Germany-based energy storage technology provider Sonnen, for an undisclosed amount.
Founded in 2010 as Sonnenbatterie, Sonnen produces smart energy storage systems for customers in Europe, the US and Australia, allowing them to store surplus energy from home solar systems to be used at times when the sun is not out, such as at night.
Users in some European markets can also band together into a local community…
