Envision as well as renewables investor Thomas Pütter, a former chairman of Allianz Capital Partners, in the financing round have become Sonnen stake holders, joining existing investors that include GE Ventures, eCapital, MVP, Set Ventures and Inven Capital.

Sonnen plans to use the proceeds to deepen its expansion in the US, Australia, the UK and Italy, and the development of new products such as its energy sharing platform SonnenCommunity.

Envision’s entry into Sonnen’s stake holdings comes as its rival in solar storage, Tesla, announced a far-reaching cooperation with Japan’s Panasonic that is contingent to Tesla’s $2.6bn