Business · Companies · 4 hrs ago

Sonnen’s German business files for insolvency as US sales double

Sonnen’s German business files for insolvency as US sales double

Sonnen GmbH has filed for insolvency in Germany, just two months after Shell sold the global business to investment group TIVEN.

The company informed about 400 employees in Wildpoldsried, Bavaria, on October 22.

Sonnen says it intends to keep supporting more than 150,000 existing customers, though the company is expected to undergo a major restructuring.

Several subsidiaries may close or enter insolvency proceedings, and only one production site is expected to remain.

At the same time, sonnen USA says its sales have doubled and production has tripled year over year, with expanded manufacturing in Georgia.

The US business expects to deliver more than 180 megawatt-hours of home battery storage in 2026, much of it linked to programs that connect batteries to support the power grid.

How the German restructuring will affect US customers remains unclear; sonnen USA has not addressed the German filing, and the company says it plans to keep serving its existing customers.

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What people are saying

Blake Richettasonnen USA CEO
TIVEN is firmly committed to the long-term success of sonnen USA as a strong, market-leading company in the North American VPP energy market.
via Electrek
TIVENsonnen’s owner
looks forward to bolstering the company’s impressive growth.
via Electrek