Sunfire, a leading German electrolyzer manufacturer, has successfully secured a substantial financial package, marking a pivotal moment in the company’s journey and the hydrogen economy at large. The company announced a significant Series E equity financing round, raising EUR 215 million, supplemented by a strategic term loan of up to EUR 100 million from the European Investment Bank (EIB). Additionally, Sunfire has access to around EUR 200 million from previously approved, yet unutilized, grant funding, positioning it as one of the most well-funded players in the electrolyzer industry.
This latest investment round welcomed several prestigious new investors, including LGT Private Banking, GIC, Ahren Innovation Capital, and Carbon Equity, with the transaction set to finalize in the second quarter of 2024, pending standard regulatory approvals. Sunfire-CEO Nils Aldag expressed enthusiasm about the influx of support, emphasizing its importance for Europe’s hydrogen production leadership and the clean-tech sector.
The capital injection will significantly enhance Sunfire’s capacity to deliver industrial-scale electrolyzers, meeting the surging demand for electrolysis technology essential for green hydrogen production. The commitment from new and existing shareholders, such as Lightrock, Planet First Partners, Carbon Direct Capital, the Amazon Climate Pledge Fund, and Blue Earth Capital, underscores the industry’s confidence in Sunfire’s vision and technological prowess.
Further strengthening its financial foundation, Sunfire has secured a notable credit facility from the EIB, reinforcing the company’s strategy of financial diversification and signaling its capability to thrive in the venture debt market. This support from the EIB, alongside robust investor backing, empowers Sunfire to scale up production of next-generation electrolyzers, contributing to Europe’s industrial future-proofing efforts.
Sunfire’s advanced electrolysis technologies, including pressurized alkaline and high-temperature solid oxide systems, are instrumental in the transition to renewable energy, enabling efficient and scalable green hydrogen production. The company aims to deploy several gigawatts of electrolysis capacity by 2030, targeting large-scale green hydrogen projects and cementing its leading position in the global market.
Nicola Beer from the EIB and investors from Lightrock and Planet First Partners praised Sunfire’s technological innovation and its pivotal role in shaping the hydrogen economy, highlighting the company’s potential to decarbonize energy-intensive industries and contribute to a sustainable energy future.
