INVEN CAPITAL, daughter-company of CEZ Group, invests in Sonnenbatterie, the German-based global leader in energy storage systems
INVEN CAPITAL, a company founded by the CEZ Group to invest in innovative energy solutions, has invested in Sonnenbatterie, a German company specialized in developing, manufacturing and selling battery based intelligent energy storage systems. Based in Bavaria, the company has developed a unique and reliable solution and has become a global leader in technologies for storing energy from solar panels and other renewable sources of energy for households and commercial clients. INVEN CAPITAL participated in a capital increase and joined Sonnenbatterie alongside with SET Ventures, Munich Venture Partners and eCAPITAL as a financial investor.
“By investing in Sonnenbatterie, we are fulfilling one of the core pillars of ČEZ’s strategy, which is to develop our activities in decentralised energy and renewable sources. It is also a major milestone in implementing our growth plans in Germany and Central Europe,” said Daniel Beneš, ČEZ’s Chief Executive Officer.“We have founded INVEN CAPITAL to pursue business opportunities involving innovative energy solutions. INVEN, which has also been exploring other acquisition opportunities in the New Energy sector, will become a source and incubator for innovative products and services that we plan to offer to millions of ČEZ clients in the future in line with our strategy.” Daniel Beneš added.
Sonnenbatterie has thus far sold some 8,000 intelligent energy storage systems. Its sales have more than doubled year-on-year. This growth trend is expected to continue. INVEN CAPITAL provided the company with capital for its expansion, and gained a minority interest, which allows it to have a representative on the advisory board.
“Our objective has been to find a partner that supports our growth strategy in Europe and North America. We welcome INVEN CAPITAL´s investment in Sonnenbatterie as the investor is backed by ČEZ, a major European energy company that has sufficient capital and specific know-how in the energy, as well as direct access to customers who want to participate in the energy transition to renewable energies,” added Christoph Ostermann, Founder and Chief Executive Officer of Sonnenbatterie.
Recent developments in the energy sector show that the global demand for energy storage is growing significantly. The share of households that buy battery storage systems together with solar panels rises every year. According to the estimates of IHS, a US technology company, global sales in the energy storage market will reach USD 10 billion in 2017.
“Sonnenbatterie’s production has been increasing considerably. Presently, due to its unique distribution network, its production is sold out one year in advance. Its battery systems are reliable and well established in the market. And its prices are some 30% to 50% below other solutions available in the market, which represents a major competitive advantage for Sonnenbatterie,” added Petr Míkovec, Chief Executive Officer of INVEN CAPITAL.
Battery storage systems can accumulate energy from solar panels during the day when the sun shines and then make this energy available during peak hours, which means evening hours for most households when the sunshine is no longer available. Sonnenbatterie’s solution reduces yearly household for electricity expenses by up to 80%, and allows consumers to become almost self-sufficient and protects them from escalating electricity prices.
INVEN CAPITAL is a company established by ČEZ and controlled by ČEZ Nová energetika (ČEZ New Energy). INVEN CAPITAL’s strategy is to identify opportunities for investing in smaller, innovative and growing clean-tech firms in Europe. It primarily focuses on later-stage growth investment opportunities with a proven business model that have generated exponential revenue growth with long-term growth potential. INVEN CAPITAL’s objective is to generate long-term value by actively cooperating with the management of the companies in which it invests and by actively supporting of organic or acquisition growth strategies. INVEN CAPITAL’s portfolio companies can take advantage of CEZ’s extensive energy sector expertise, its customer base, and technology synergies.
Sonnenbatterie is the German leader in the system integration, distribution and online operation of battery based energy storage systems. The company was established in April 2010 based on technologies it had been developing since 2008. Its modular battery solutions, both the commercial version and the residential version, boost energy self-sufficiency (in combination with photovoltaic systems and other renewable sources of energy), provide back up in case of blackouts, and ensure active energy management and compatibility with smart home systems. Since its foundation, the company has already launched the fifth generation of its products, with more than 8,000 units sold in Europe to date. Sonnenbatterie is rapidly growing not only in Europe, but also in the US. The company has its headquarters in Wildpoldsried, Germany, and operates a branch office in Los Angeles, California.
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