Envision gives cash boost to German battery maker

A German battery maker that allows people to store and pool electricity said it had secured 76 million euros ($85 million) from venture capital investors, including Chinese wind turbine and energy management group Envision Energy Ltd.

The startup sonnen, formerly Sonnenbatterie, said on Sunday that it plans to use the money to expand in Italy, Australia, the United States and the United Kingdom.

Its technology allows renewable power to be stored and then used when weather conditions prevent sufficient generation.