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Sonnen Obtains Shell Ventures

Author: Source: Datetime: 2018-05-25 12:06:57
German solar cell manufacturer Sonnen has obtained 60 million euros (US$71 million) in funds from Shell Ventures and existing shareholders to expand at home and abroad.

Sonnen CEO Christophe Osterman told Reuters that Shell Venture Capital is a unit of Anglo-Dutch Oil Company and has been committed to increasing investment in solar energy and other renewable energy, and is the main source of the latest round of financing. investor.

“With this funding, we can start important investment plans, especially in the United States and Australia,” he added, adding that existing shareholders also contributed extra cash.
Sonnen Obtains Shell Ventures
“We also hope to invest in expanding our Sonnen community and our Virtual Power Plant (VPP) and expanding the grid-related services we provide,” said Sonnen’s CEO, adding that the company’s goal is to be Germany turned a profit.

The company provides battery storage systems for homes with rooftop solar panels and links its own electricity production with other solar users in Germany, the largest solar market in Europe.

The company also operates in Italy, France, Australia, Austria, the United Kingdom and the United States. It provides hardware and software to customers seeking greater independence. The electricity market is mainly generated by large utility companies. Most of these utilities’ electricity comes from Fossil fuels.
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