(Dresden, Germany) – The European Investment Bank (EIB) is providing a €100 million loan to the German company Sunfire GmbH, a manufacturer of solid oxide electrolyzers (SOEC). The Dresden-based company also announced that it has raised an additional €215 million in equity capital in a financing round. New investors include LGT Private Banking, GIC, Ahren Innovation Capital, and Carbon Equity. The transaction is expected to close in the second quarter of 2024. Existing shareholders have also increased their investments.
CEO Nils Aldag: Sunfire wants to “drive forward the industrialization of technologies at full speed in order to meet the great demand for electrolysers.” © Sunfire GmbH
The company, which has more than 500 employees in Germany and Switzerland, wants to use the money to “drive forward the industrialization of our technologies at full speed in order to meet the great demand for electrolyzers,” says Sunfire CEO Nils Aldag. To finance growth, Sunfire also has access to around 200 million euros in already approved funding. Sunfire is developing pressurized alkaline and high-temperature SOEC electrolyzers, which it says are “a scalable and efficient method for producing green hydrogen.” The company wants to install several gigawatts of electrolysis systems in large-scale projects by 2030
The EIB's investments are supported by the InvestEU program, which aims to unlock more than €2027 billion in additional investment across Europe, including in new technologies, by 372.
Photos
Sunfire headquarters in Dresden. © Sunfire GmbH
