What a few weeks it has been for big companies investing in energy storage companies. We've seen the purchase of Saft in a Billion dollar deal with Total, Engie buying 80% of Greencharge Networks and now this significant investment from GE into Sonnen. Sonnen is a company close to our hearts at Hyperion, we recruited their UK team in the last year. This investment clearly gives them a huge boost as they go head to head with Tesla.
As I understand it though the deals of this nature aren't done yet, expect some more big news, possibly before Intersolar /EES. Of course let's not forget the Daimler/Mercedes Energy announcement recently too. It all makes for a very exciting space, moving at rapid pace.
We continue our part in the market, placing the best candidates, with the best companies, in the best interest of the industry.
Phillip Schroeder, a managing director at the Germany-headquartered company formerly known as Sonnenbatterie, spoke to Energy-Storage.News on Monday about GE investing an undisclosed “double digit million-Euro” sum into the storage company via its GE Ventures venture capital arm. Schroeder said Sonnen was “very excited” to welcome GE as its first US investor. Sonnen’s existing funders have been European-based and made up largely of early-stage VC and private equity companies. While Schroeder pointed out that GE remains a minority stakeholder (“there is no change of control, it’s a minority investment”), he also described the new investor as Sonnen’s first “real strategic partner”.