Battery pioneer: German storage manufacturer Sonnen GmbH files for insolvency
Shortly after the sale by Shell, Sonnen GmbH files for insolvency. Insiders make serious allegations in the Handelsblatt - also against the new owner of the former industry pioneer.
German solar storage company Sonnen, acquired by investor Tiven from Shell two months ago, has filed for insolvency. The company, which had 400 employees in Wildpoldsried, will continue to serve its 150,000 customers but will shut down several subsidiaries and retain only one production site. Sonnen's financial struggles worsened significantly in 2024, with a sharp decline in revenue to 198.9 million euros and losses of over 188.7 million euros.
The company's previous owner, Shell, had invested over 1 billion euros in Sonnen during its five-year ownership.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
