Amazon-Backed Hydrogen Firm Raises €500 Million to Ramp Up
- About half the funds to be used to produce affordable hygrogen
- Green hydrogen could be key to the EU’s climate goals
Sunfire GmbH headquarters in Dresden.
Source: Sunfire GmbH
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German green hydrogen company Sunfire GmbH raised over €500 million to further its development of technology that may be key to Europe’s climate goals.
The funding includes €215 million ($233 million) of new equity, along with a €100 million loan from the European Investment Bank and a grant of €200 million to fuel the company’s growth in the coming years. That will be key to its investments in manufacturing and technological improvements that will help its green hydrogen technology compete with fossil fuel alternatives.