MVP et al. invest €7.5m in Sonnenbatterie

MVP and Chrysalix led the round, while eCapital committed follow-on financing. The backers hope to increase the company's presence internationally.

MVP focuses on cleantech investments in Europe, while Chrysalix SET is an Amsterdam-based management company investing SET Funds I and II. It focuses on European early-stage technology companies in the energy sector.

The two companies clubbed together in January this year to commit more than €1m to Netherlands-based Luxexcel, an optical 3D printing technology.

Previous financing
eCapital invested in Sonnenbatterie in January 2013 via its cleantech fund.

Company
Headquartered in Wildpoldsried, Sonnenbatterie has sold 4,000 lithium storage systems to home owners, farmers and businesses since its inception in April 2010. Its products have a storage capacity range of 4.5-60 kWh. According to the company, it has doubled its sales every year since 2012.

As well as the German-speaking region, it operates in Italy, Luxembourg and Slovakia. It began sales operations in the US this year, opening an office in Los Angeles.

People
Christoph Ostermann is managing director of Sonnenbatterie. Sönke Mehrgardt is partner and managing director at MVP. Rene Savelsberg is CEO and managing director of Chrysalix SET. Paul Josef Patt is managing partner and CEO of eCapital.

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• Topics
• DACH
• Expansion
• Industrials
• Germany
• Cleantech