The Czech utility company ČEZ is investing several hundred million Czech Koruna into the German battery company Sonnenbatterie via its subsidiary Inven Capital, according to recent reports.
The reason for the rather large investment (several hundred million Czech Koruna is equal to around or over $10 million) is due to the company’s potential for rapid expansion over the next few years.
The recent investment from Inven Capital follows roughly $13 million recently invested by eCapital, Munich Venture, and SET Ventures — altogether, resulting in the company being in a pretty decent place resource wise.
A spokesperson for Inven Capital recently spoke to pv magazine about the move, commenting about Sonnenbatterie that, “Its prices are some 30% to 50% below other solutions available in the market, which represents a major competitive advantage for Sonnenbatterie. It has thus far sold some 8,000 intelligent energy storage systems and its sales have more than doubled year-on-year. This growth trend is expected to continue and now Inven Capital can be part of its further expansion due to its company share.”
The spokesperson also noted: “By investing in Sonnenbatterie, we are fulfilling one of the core pillars of ČEZ’s strategy, which is to develop our activities in decentralized energy and renewable sources. It is also a major milestone in implementing our growth plans in Germany and Central Europe. We plan to offer these solutions to millions of ČEZ clients in the future in line with our strategy.”
Interestingly, the spokesperson also noted that the company was looking for further investment opportunities in the sector — apparently with the intent being to support smaller companies with the potential for rapid growth.
“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,” as the strategy was explained.
Imag Credit: Inven Capital