German electrolyzer manufacturer Sunfire has secured a substantial investment of €315 million (USD$342 million), including €215 million from a Series E equity financing round and a term loan of up to €100 million from the European Investment Bank (EIB). This funding is earmarked to propel the advancement and industrialization of its green hydrogen technologies. Established in 2010 and headquartered in Dresden, Sunfire specializes in producing industrial electrolyzers designed to tackle the pressing challenge of generating renewable hydrogen and syngas as eco-friendly alternatives to fossil fuels. Leveraging pressurized alkaline and high-temperature solid oxide (SOEC) electrolysis technologies, the company offers scalable and efficient solutions for producing green hydrogen and syngas from renewable electricity, water steam, and captured CO2.
Sunfire’s ambitious plans include the installation of several gigawatts of electrolysis equipment by 2030 for large-scale green hydrogen projects, with this financing playing a pivotal role in advancing the hydrogen economy. Notably, LGT Private Banking, GIC, Ahren Innovation Capital, and Carbon Equity have joined as new investors, while existing shareholders, including Liebtrock, Planet First Partners, Carbon Direct Capital, the Amazon Climate Pledge Fund, and Blue Earth Capital, have increased their investment in Sunfire. Additionally, Sunfire has access to approximately €200 million in previously approved, undrawn grant funding to further support its growth initiatives.
Source– Sunfire Raises $340 Million for Clean Hydrogen Production Tech | ESG Investing (esg-investing.com)
About the Authors
Associate Director, Investment Banking
Prachurjya has over 16 years of experience in investment banking with Acuity Knowledge Partners. At Acuity, he has led sector and product-specialist pilot teams across Capital Markets, ESG, Debt Advisory, Loan Syndications, Metals & Mining and Real Estate. He has been actively involved in setting up and on-boarding new ESG Advisory, ESG DCM and Sustainable Finance teams for various bulge bracket investment banks. Within DCM and Rating Advisory, he has been instrumental in helping the clients achieve over 30% in annual savings on both regular and adhoc tasks through standardization of the outputs and deployment of our proprietary BEAT tools.
Delivery Manager, Investment Banking
Puja has 6 years of extensive experience in ESG, Climate Change & Sustainability and she is supervising the ESG team at Acuity. She also has diverse experience in conducting ESIA, EHS compliance audits, ESG Risks and Controls, EHS & ESG Due Diligence assessments. Prior to joining Acuity, she was working with companies like KPMG Global Services, EY India and ERM India. She has expertise in provisioning extensive research requirements for clients through preparation of Peer Benchmarking, Target Compilation, Sustainability report, Sustainable Finance Updates and Sectoral ESG Thematic Detailing Engagement.
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