Investments

Germany’s Sunfire receives contemporary funding for electrolyser manufacturing

FRANKFURT, Oct 18 (Reuters) – Germany’s Sunfire, a Dresden-based clear expertise firm, on Monday stated it has secured 109 million euros ($126 million) of funding to spice up its function in quick increasing markets for inexperienced hydrogen derived from renewable sources like wind or photo voltaic.

Sunfire, a producer of electrolysis vegetation, whose shareholders embrace Complete and Neste (NESTE.HE), stated the cash was raised from non-public fairness investor Lightrock, Planet First Companions (PFP), based mostly in London, and Carbon Direct, based mostly in New York.

“Our electrolysis applied sciences are crucial for growing inexperienced hydrogen provide that’s wanted to decarbonise industrial corporations at vital scale,” stated chief government Nils Aldag.

The European Union and Germany goal to create a “inexperienced” hydrogen business based mostly on non-fossil sources as a part of its decarbonisation technique. learn extra

Electrolysers are an important a part of that business as they use electrical present from wind and photo voltaic vegetation to separate water into hydrogen and oxygen.

On this method, surplus renewable electrical energy manufacturing might be saved on fuel networks and caverns, and the hydrogen can be utilized in business, power, heating buildings or fuelling gas cell autos.

Typical or “gray” hydrogen is at present produced in a distinct course of utilizing fossil fuels, and serves a smaller vary of business purposes than is thinkable as soon as its inexperienced counterpart arrives at massive scale.

In October, Sunfire stated it might be increasing its annual manufacturing capability of alkaline electrolysers to not less than 500 megawatts (MW) each year by 2023 from 40 MW at current.

Demand for electrolysis capability within the EU is predicted to rise to 40,000 MW by 2030 from at present beneath 1,000 MW, it stated.

Sunfire has experience in each alkaline strain electrolysis and high-temperature electrolysis methodology, known as stable oxide electrolyser cells (SOEC), equipping it to reply to a spread of various use circumstances.

($1 = 0.8621 euros)

Reporting by Vera Eckert, modifying by William Maclean

Our Requirements: The Thomson Reuters Belief Ideas.

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