Electranova Capital leads Sunfire series-B

The series-B funding round amounted to a "high seven-figure" sum, which will enable the firm to accelerate deployment and broaden its market reach.

Cleantech investment fund Electranova is sponsored by French energy company EDF and managed by private equity house Idinvest Partners. Since its launch in May 2012, Electranova has backed four alternative energy companies, in line with its mission to finance innovative companies involved in renewable energy and environmental technologies.

Electranova decided to invest in Sunfire because of its unique technology and portfolio of large international clients, including Thyssenkrupp.

Previous funding
Sunfire's series-A funding round garnered investment from business angels, Bilfinger Venture Capital and ERP Startfonds at KfW. The capital raised is believed to have been in the high seven-digits region.

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 efficient conversion of regenerative electricity to liquid fuels or gas, and the further development of high-temperature fuel cells.

The company employs 70 staff and generates a turnover in the €5-10m range.

People
Carl Berninghausen is the co-founder and CEO of Sunfire. Nicolas Chaudron is a partner at Electranova.

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