Superconductor startup Subra secures 50 million euros, with Bayern Kapital on board

The Danish deep tech company Subra has closed a Series A funding round of 50 million euros. Investors include Bayern Kapital, Novo Holdings, Maj Invest, and SPRIND. With this fresh capital, the company plans to further scale its high-temperature superconducting (HTS) technology and drive the development of a fully integrated European production platform.

A key component of its growth strategy was the acquisition of THEVA Dünnschichttechnik GmbH from Ismaning in April 2026. THEVA had been part of the Bayern Kapital portfolio since 2016 and is one of the leading manufacturers of REBCO high-temperature superconductors.

We are delighted to have the support and trust of our experienced and carefully selected consortium of investors, including Bayern Kapital. With their support, we are well-positioned to further advance the development of our superconducting technologies and accelerate the scaling of production.

Anders C. Wulff, CEO of Subra

Lossless Power Transmission for the Energy Transition

With the increasing electrification of industry, mobility, and energy supply, the demand for high-performance power grids is growing. Conventional copper or aluminum conductors cause significant energy losses due to their electrical resistance.

Subra develops high-temperature superconductors (HTS) that can transmit electricity with virtually no loss when cooled with liquid nitrogen. The technology enables the transmission of up to 300 times more electrical power over the same distance than conventional copper lines.

In addition to power grids, Subra sees significant potential applications in fusion power plants, high-performance industrial applications, and research infrastructures.

European Value Chain for Superconductors

The integration of THEVA creates, for the first time, a fully European platform for high-temperature superconductors. While THEVA specializes in the manufacture of coated REBCO tapes, Subra uses these to develop complete superconducting cable systems such as the Subracable.

The company will thus cover the entire value chain in the future, from material development to industrial cable production. Production capacities in Denmark and Bavaria are to be expanded jointly to supply customers in the energy sector, research, and industry worldwide.

Capital for Scaling and Industrial Production

The new financing is intended, in particular, to accelerate the expansion of production capacity and the further development of the technology.

CEO Anders C. Wulff views the investor consortium as a key building block for the next phase of growth: The goal is to develop scalable superconducting solutions that will fundamentally transform energy systems and make a sustainable contribution to the energy transition.

We first invested in THEVA Dünnschichttechnik GmbH in 2016 and have supported the company on its successful growth path ever since.

Monika Steger, Managing Director of Bayern Kapital

Monika Steger, Managing Director of Bayern Kapital, also views the acquisition of THEVA as the logical next step. The technologies of both companies complement each other perfectly and form the foundation for a European champion in a strategically important deep-tech market.