Deals
Sonnen Considering IPO in Bid to Rival Tesla Powerwall Storage
- Sonnen gains China’s Envision Energy as stakeholder before IPO
- Goldman Sachs sees boom in European power company investments
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Sonnen GmbH, a German solar-energy-storage maker that competes against Tesla Motors Inc.’s Powerwall battery, may pursue an initial share sale as early as 2017 to develop additional services.
The company, formed in 2010 in Bavaria, sold its 10,000th battery this year and is taking on new stakeholders ahead of a potential IPO, according to its founder, Christoph Ostermann. Sonnen gained $85 million in a fresh financing round this fall, helped by new stakeholders Envision Energy and Thomas Putter, the former chairman of Allianz Capital Partners GmbH, said Ostermann.