VC firms in €25m funding round for Sunfire

The financing was led by Luxembourg-based technology company Paul Wurth (majority owned by listed industrials firm SMS Group) and also included investment from previous investors Inven Capital, Idinvest Partners, Total Energy Ventures and Sunfire Entrepreneurs Club.

The fresh capital will be used to implement commercial multi-megawatt projects using high-temperature electrolysis and power-to-liquid technology.

Paul Wurth made the investment as part of its project to achieve green steel-making, as well as seeing the opportunity to enter the e-fuels market.

Previous funding
Bilfinger Venture Capital and KfW's ERP Startfonds led a series-A of undisclosed value for Sunfire in 2012.

Electranova Capital (now part of Idinvest Partners) and Total Energy provided a seven-digit sum for Sunfire's series-B in 2014.

Energy-focused investor Inven joined the syndicate in 2015, leading a further eight-digit funding round alongside Total Energy Ventures and Idinvest.

Company
Founded in 2010 and headquartered in Dresden, Sunfire develops new technologies for efficient, closed-carbon-cycle energy supply. The cleantech firm focuses on high-temperature electrolysis, which enables the conversion of regenerative electricity to liquid fuels or gas, and the further development of high-temperature fuel cells.

People
Sunfire – Carl Berninghausen (CEO).

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