German battery maker sonnen GmbH on Monday said it has secured financial backing from GE Ventures, General Electric’s venture capital subsidiary, to develop its brand of residential power storage systems.

Sonnen, formerly called Sonnenbatterie, is a start-up which besides producing storage batteries has also launched a scheme to connect households with solar panels and other consumers in Europe’s first online energy sharing platform.

GE and existing investors in sonnen had together put up a double-digit million-euro sum in growth capital for sonnen, it said in a statement.

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