Sunfire raises more than 100 million euros

The hydrogen start-up intends to use the funds to finance its first production facility in Germany. The company is also working on a new electrolysis technology.

The Dresden-based start-up Sunfire has successfully completed its Series D financing round. The round comprises 109 million euros and is led by the private equity firm Lightrock and the VC Planet First Partners. Carbon Direct Capital Management and HydrogenOne Capital as well as several existing investors are also involved.

Sunfire CEO Nils Aldag founded Sunrise in 2010 together with Christian von Olshausen and Carl Berninghausen. The company initially produced synthetic fuels, but then began to manufacture electrolysers for the production of hydrogen following a number of acquisitions. The electrolyser breaks down water into hydrogen and oxygen. On the one hand, Sunrise relies on alkaline electrolysis. A production facility for this technology is to be built in Germany by 2023. At the same time, the founders are working on the development of a solid oxide electrolysis technology that will make it easier to replace everything previously produced from crude oil, from aviation fuel to diesel.

"Sunfire's unique technologies will reduce the cost of producing green hydrogen and help establish a competitive hydrogen value chain," said Lightrock partner Kevin Bone on his company's investment decision.