Sonnen receives 25-million-euro loan from the European Investment Bank
German battery storage supplier Sonnen has received a 25-million-euro loan from the European Investment Bank (EIB), reports Marian Willuhn in pv magazine. The EIB said supporting Sonnen will help Europe realise its clean energy targets, and added that the loan will part-finance the storage company’s 83-million-euro 2019-2021 investment plan for research and development, digitalisation and sales and marketing. In May, Sonnen closed its last financing round with 60 million euros from a group of investors led by Shell Ventures. Sonnen says it aims to strengthen its presence in the US and Australian markets, according to the article.