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German-Based Sunfire Secures €25M in Series C Funding

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Sunfire announces €25 million in Series C funding. The round was led by Paul Wurth S.A., part of SMS group, a provider of equipment and plants for the metals industry, with participation from existing investors Inven Capital, Idinvest Partners, Total Energy Ventures and Sunfire Entrepreneurs Club.

Based in Dresden, Germany, the company develops and manufactures electrolysers and fuel cells for sectors such as heavy load transportation, aviation, steel industry or chemical industry.

The startup built a plant to prove it is possible to live without damaging the climate. They convert carbon dioxide and water into a product called e-Syngas. The renewable Syngas can be further converted into anything that we today produce using fossil fuels.

The company intends to use the funds to implement commercial multi-megawatt projects applying high-temperature electrolysis and Power-to-Liquid technology.

The technology company Paul Wurth S.A. also joined as the new lead investor. The Luxembourg-based plant builder will provide access to global metals industry, which increasingly uses renewable hydrogen.

Magdalena
Magdalena
Magdalena is writing about innovations and recent investments in the startup world. Originally coming from Slovakia, Magdalena has been writing for one of the largest consumer electronics retailers in Europe and has now immersed herself into the world of startups. Her educational background in Finance and Business Informatics has given her a broad base from which to approach many topics. In addition to that, she is a tech geek, passionate photographer and a lifelong dog lover.

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