Amazon invests in Sunfire
Felix Leitmeyer
| 14.07.2022
Amazon is thus entering the European market for green hydrogen. The investment is said to be one of many steps that could make the shipping giant CO2 neutral.
Amazon's Climate Pledge Fund has invested in Dresden-based electrolysis startup Sunfire. The Saxony-based company is thus the first European player for green hydrogen in which the venture capital fund has entered with a budget of two billion US dollars. The companies did not disclose exactly how much money has flowed.
With the investment, Sunfire secures further capital to finance its electrolysis technologies. Most recently, the Dresden-based company had landed 195 million euros in its Series D financing round. The company is set to receive further funding under the Important Projects of Common European Interest (IPCEI).
The Dresden-based company develops and produces electrolysers. These plants produce green hydrogen, which energy-intensive sectors such as the steel or chemical industries need for decarbonization. Companies like Amazon are expected to use the gas to help them meet their climate goals. The company says it is a leader in an area that relatively few companies seem to have discovered: Electrolysers are still a scarce commodity, even though the need is great. To meet industry demand, Sunfire is currently transitioning its production capacity to gigawatt scale. The company is now being supported by Amazon in this effort as well.
"One of the most successful companies in the world is now one of our investors," says Nils Aldag, CEO of Sunfire. "We are the first European company in the field of green hydrogen technologies to receive this trust from Amazon. This makes us very proud." "Amazon has committed to being carbon neutral in all of its operations by 2040. We are underpinning this goal by investing in visionary companies like Sunfire through our Climate Pledge Fund," added Kara Hurst. She is vice president of Worldwide Sustainability at Amazon. "Green hydrogen is a particularly important building block in Europe's energy mix - and Sunfire's innovative products can make a critical contribution to its expansion in Europe."
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Startup
2010
Dresden
Sunfire
Industrial electrolysis with two differentiated technologies for energy production.
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