sonnen USA has confirmed its sale from Shell to TIVEN, a family office investment group based in Malta and Germany.
Credit: sonnen
TIVEN acquired 100% of sonnen’s global business, including the American business line, sonnen USA. The transaction follows a successful year driven by the company’s strategic VPP partnerships with SOLRITE in Texas, New England, California and other emerging markets.
“sonnen USA remains laser-focused on bold VPP market innovation and continued success in the U.S., delivering the products and services that our partners and customers rely on,” said Blake Richetta, CEO of sonnen USA. “TIVEN is firmly committed to the long-term success of sonnen USA as a strong, market-leading company in the North American VPP energy market.”
“The North American market for residential VPP solutions is significant, and we are pleased to enter it with sonnen, a true pioneer of the sector,” said a TIVEN spokesperson. “Blake and his team have built sonnen USA for this moment, enabling residents, developers, solar providers and utilities to address rising energy costs and volatility. We look forward to bolstering the company’s impressive growth.”
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