Dive Brief:

• GE Ventures has invested in German energy storage hardware and services provider Sonnen.

• The companies did not disclose the exact amount, but in a press release, Sonnen said it was a “mid double-digit million-euro” investment.

• The investment is aimed at helping Sonnen expand its presence in the residential energy storage market in Europe and the U.S.

Dive Insight:

Sonnen has been moving rapidly to compete in the residential storage markets with companies such as Tesla Motors.

In February, Sonnen formed partnerships with SolarWorld, a crystalline-silicon solar manufacturer, and with PetersenDean, a residential roofing company, to tap into the U.S. market for energy storage.

In its home market, Sonnen has introduced sonnenCommunity, which connects energy producers and consumers, allowing them to supply one another with renewable energy.

The sharing platform was introduced in November in Germany and Austria, and about 1,500 households had signed up for the plan. Sonnen claims the product could make traditional power companies unnecessary.

“Sonnen is helping to reshape the energy industry," Jonathan Pulitzer, managing director at GE Ventures, said in a statement.

GE Ventures is the venture capital arm of U.S. industrial giant General Electric. Sonnen backers also include German E-Capital and Czech firm Inven Capital.

To date, Sonnen said it has sold 11,000 lithium battery units, making it the European market leader in that segment.

GE Ventures is also an investor in energy storage provider Stem, which has just closed a $15 million Series-C funding round with capital from other investors, including European power utility RWE and Mithral Capital Management.