- Sunfire secured €109 million in Series D funding led by Lightrock and Planet First Partners.
- A new electrolyzer production site in Germany will have a 500 MW annual capacity by 2023.
- Sunfire's SOEC technology produces syngas, which can be converted into fuels without harmful emissions.
- Goldman Sachs Bank Europe SE served as exclusive financial adviser and placement agent.
Investment and Growth
Sunfire has secured €109 million in its Series D funding round, led by Lightrock and Planet First Partners, with participation from Carbon Direct Capital Management, HydrogenOne Capital, and existing shareholders. This investment will help Sunfire scale its advanced pressurized alkaline and solid oxide (SOEC) electrolysis technologies to industrial levels, including the construction of production gigafactories.
Production Expansion
Sunfire plans to build a large-scale electrolyzer production site in Germany, aiming for an annual manufacturing capacity of 500 MW by 2023, with further expansion to gigawatt-scale already in the planning stages. This will significantly increase the supply of green hydrogen, essential for decarbonizing industrial companies.
Technological Advancements
Sunfire's SOEC technology is notable for its efficiency and ability to produce syngas, a mixture of hydrogen and carbon monoxide. Syngas can be converted into various products currently derived from fossil crude oil, such as jet fuel and diesel, but without the associated harmful emissions.
Strategic Importance
Europe is positioning itself as a global leader in the hydrogen sector, and Sunfire aims to be at the forefront by providing world-class technology at scale. The company will be hiring additional talent across all functional areas to meet its growth objectives.
Advisory Role
Goldman Sachs Bank Europe SE served as the exclusive financial adviser and placement agent for Sunfire in this funding round.
