Dynelectro, a leader in sustainable energy technologies, has successfully closed an €11 million funding round, marking a significant leap forward in green hydrogen production. This funding will spearhead the development and deployment of their 1-MW Dynamic Electrolyser Unit (DEU) at European Energy’s renewable facility in Denmark. Leading the investment round are prominent early-stage investors such as the Export & Import Fund of Denmark (EIFO), Yara Growth Ventures, and the European Innovation Council (EIC) Fund, among others.
Accompanying this investment, Dynelectro has also secured €9 million in grants, highlighting strong support from major players like Shell. This combined financial backing underscores the confidence in Dynelectro’s potential to transform the hydrogen market with its innovative technology.
Dynelectro’s DEU, a next-generation solid-oxide electrolysis system, is set to revolutionize the industry by offering superior performance and longevity. This technology not only supports the decarbonization of hard-to-abate sectors by efficiently producing hydrogen but also utilizes industrial waste heat. The DEU’s introduction aligns perfectly with global efforts to transition to greener energy sources and reduce carbon emissions across heavy industries.
Christian Winther from EIFO noted the significance of this development, “Dynelectro is an exemplary example of a company that has developed sustainable solutions with venture capital that we need both in Denmark and worldwide. We are pleased that a Danish company has cracked the code to make electrolysis more profitable, and how Dynelectro strengthens Europe’s position as a pioneer in Power-to-X.”
The project’s next steps include scaling the DEU technology from 150-kW prototypes to commercial-scale 1-MW units, with the first full-scale unit expected to be operational by the first half of 2025. This deployment will demonstrate Dynelectro’s advanced energy solutions in action, providing crucial data and validation for further expansion.
Sune Lilbaek, CEO of Dynelectro, expressed enthusiasm about the project’s prospects: “This investment round not only validates our technology but also sets the stage for our growth and significant advancements in sustainable energy in general.”
As the green hydrogen sector continues to expand, Dynelectro is positioned to play a pivotal role in enabling a cleaner, more sustainable future, catalyzing further advancements and adoption of renewable energy solutions across the globe.
