European Investment Bank leads $109M investment in Sunfire for its solid oxide electrolysers

In Luxembourg, the European Investment Bank (EIB) is teaming up with private investors to support the development of innovative electrolysis technologies needed for Europe`s green transition. With the Germany-based Sunfire, the EU-Bank has signed a first agreement worth up to €100 million to advance Sunfire’s solid oxide electrolysers towards serial production.

The EIB`s investment is supported by the InvestEU programme, which aims to trigger more than €372 billion in additional investment across Europe until 2027, including in new technologies. In addition, Sunfire secured additional €215 million in a Series E equity financing round.

The agreement will support Sunfire develop electrolysers to produce green hydrogen more energy- and cost-effectively for industry processes, replacing the use of fossil fuels in high energy consuming sectors like chemicals and steel. Likely clients would include fertilizer/ammonia or methanol producers, energy majors and steel mills that are seeking to decarbonize their production.