Hyperheat, an Offenburg, Germany-based startup that develops electric heaters for steel, cement, and chemicals industries, raised $3.7m in funding.
The round was led by Amadeus APEX Technology Fund, with participation from Finindus, Possible Ventures, E44 Ventures, and Breakthrough Energy Fellows.
The company intends to use the funds to expand operations and its development efforts.
Founded in 2023 by Dr. Lars Amsbeck and Frederick Lessmann, HyperHeat is building an all-electric heating solution designed to reach temperatures of up to 2,000°C. Using renewable electricity, it aims to provide an efficient alternative to fossil fuel combustion. It is ideal for retrofitting industrial processes, enabling significant CO2 reductions across industries like steel, cement, and chemicals. The scalable technology offers a cost-efficient approach to decarbonizing thermal processes, with a potential to reduce global CO2 emissions by over 4.5 gigatons annually.
FinSMEs
27/11/2024