Sunfire GmbH, a Dresden, Germany-based developer and manufacturer of electrolysers and fuel cells, secured €25m in Series C financing round.
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.
The company intends to use the funds to implement commercial multi-megawatt projects applying high-temperature electrolysis and Power-to-Liquid technology.
Led by Carl Berninghausen, CEO, Sunfire has developed technologies that allow the production of climate-neutral fuels and gases for sectors such as heavy load transportation, aviation, steel industry or chemical industry.
In conjunction with the funding, plant builder Paul Wurth will provide access to global metals industry, which increasingly uses renewable hydrogen.