German home battery pack/EV charger maker sonnen secures $70M financing round led by Shell
In a recent announcement, Germany-based home battery pack and electric vehicle charger manufacturer sonnen has said that it has secured a new financing round of ~$70 million USD.
According to the announcement made by sonnen, the new financing round was led by oil company Shell. The investment will give Shell a stake in sonnen, which has its batteries being used in thousands of homes, mostly in Germany, but also in Australia and recently in the US as well.
In announcing the new funding round, sonnen CEO Christoph Ostermann said that the company needs “continued investments” because it makes relentless efforts towards “growing faster than the energy storage market and establishing new technologies such as energy sharing and our virtual battery pool.”
Ostermann also added that sonnen has not just secured an investment from Shell, but will also team up with Shell’s New Energies division for the launch of “a strategic cooperation agreement” in areas which offer synergies between both the companies. These areas, as per sonnen, include innovative integrated energy propositions and enhanced EV charging solutions, among others.
Meanwhile, about Shell’s investment in sonnen, Brian Davis -- Shell’s VP of Energy Solutions -- said that the investment will give Shell the ability to “combine Shell’s power business activities with sonnen’s high quality, innovative products and business model to enhance our consumer energy offerings.”
According to a recent disclosure by Mitsubishi Motors, the company’s new 2019 Outlander PHEV -- a plug-in hybrid SUV -- will come with some noteworthy upgrades, including a ‘slight increase in battery capacity, in order to enhance the range of the
US electric vehicle maker Tesla Motors has released some new footage this week, showing that the first prototypes of the company’s Tesla Semi electric truck are presently in their test program, before the electric truck hits production.
According to a recent confirmation by Swedish automaker Volvo’s design chief Thomas Ingenlath, the first fully electric car to be launched by the brand will be an electric version of the XC40.
Tesla electric vehicle owners will now be able to remotely limit the speed of their vehicles, thanks to a new mobile app update which is being released by the automaker alongside a vehicle software update.
In a recent announcement, Daimler has revealed that its Mercedes-Benz Energy subsidiary and partners have converted a recently-shuttered coal power plant into a massive energy storage facility, with the help of more than one thousand modules from
In Ontario, the incoming Progressive Conservatives government will phase out an existing electric-vehicle rebate program, under which rebates of up to $14,000 are available to consumers on the purchase of electric vehicles (EVs).