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Sunfire

Hydrogen Economy
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Clean Hydrogen
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Sunfire offers systems for renewable hydrogen, syngas, and e-fuel production. Its “Hylink” high-temperature electrolyzers are based on alkaline and solid oxide electrolyzer cells (SOEC) technologies for hydrogen production. Its alkaline Hylink electrolyzer, with a scalable design, can produce 2,230 normal cubic meters of hydrogen per hour (Nm³/h), at a gauge pressure of 30 bar (barg), with a power consumption of 4.7 kilowatt hours per normal cubic meter (kWh/Nm³). Its SOEC system, with a modular design, can produce 750 Nm³/h hydrogen with a power consumption of 3.6 kWh/Nm³.

In 2014, Sunfire also opened a demonstration Power-to-Liquid (PtL) production plant in Dresden, Germany to produce renewable e-fuels. Also, in June 2020, Sunfire joined forces with a consortium of companies led by Norway-based Norsk e-Fuel to build Europe’s first commercial plant for hydrogen-based renewable aviation fuel in Norway. The plant is planned to be operational by 2024. 

In November 2023, Sunfire announced that it would invest EUR 30 million (USD 32 million) in its Dresden headquarters over the next few years to expand its R&D center, including prototype manufacturing. Earlier that year, Sunfire commenced serial production of electrolyzers, expanding its proven electroplating line and commissioning a 500 MW facility. In December 2023, Sunfire partnered with Fraunhofer IFAM, a non-university institution focused on applied research and the development and qualification of materials for alkaline stacks, to develop an anion exchange membrane (AEM) electrolyzer in the upper double-digit kW range for industrial-scale application.

Key customers and partnerships

As of June 2021, the German company was involved in four different projects to provide electrolysis solutions. Its partners include Neste, a Finnish provider of oil refining and renewable solutions; MPREIS , an Austrian food retail company; Salzgitter, a Germany-based steel manufacturer; Total, a French oil and gas company; and Uniper , a Germany-based energy supplier. As of November 2023, Sunfire’s electrolyzers have been installed at industrial partners including RWE, Salzgitter AG, and Neste.

In partnership with project developer P2X Solutions, Sunfire completed the installation of a pressurized alkaline electrolyzer at Finland's first industrial-scale electrolysis plant in Harjavalta in February 2024, with green hydrogen production expected in 1H 2024. In addition, in August 2023, Sunfire received its first commercial order to supply a 100 MW pressurized alkaline electrolyzer, consisting of ten 10 MW modules and power supply units, to a European refinery. Sunfire is responsible for overseeing the installation and commissioning of the system, which is expected to be operational in early 2026.

Sunfire has also made several acquisitions including New Enerday, a German fuel cell manufacturer, in 2018, Industrie Haute Technology (IHT), a Swiss alkaline electrolysis company, in January 2021 and MTV NT Solingen branch , a German electroplating specialist, in January 2022.

Funding and financials

In August 2023, Sunfire received a EUR 169 million (USD 180 million) grant as part of the Important Projects of Common European Interest (IPCEI), reportedly becoming the only German producer of large-scale electrolyzers to receive such support. The funds will be used to establish the first industrial series production of its electrolysis technologies.

Prior to this, the company’s most recent funding round was in July 2022 , when it raised an undisclosed investment from Amazon’s Climate Pledge Fund. In March 2022, the company raised EUR 86 million (USD 94.9 million) as the second tranche of its Series D funding round co-led by Copenhagen Infrastructure Partners (CIP) and Blue Earth Capital. The first tranche of the company’s Series D round was in October 2021 when it raised EUR 109 million (USD 125 million) from a consortium of investors led by Lightrock and Planet First Partners. In January 2022, Sunfire received a grant of EUR 60 million (USD 68 million) from the Federal Ministry of Education and Research to lead the H2Giga project. The grant funding was utilized to develop the company’s SOEC technology and pressurized alkaline electrolyzers.

Hydrogen Economy

Hydrogen Economy

Key stats
Featured companies
66
Total funding (USD)
9.5 Bn
Total addressable market (USD)
128.7 Bn
Key competitors
 
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EDGE Insights

Next-gen Climate and Energy (Q1 2024): US passes new climate disclosure laws; a giant leap or a small step?
Next-gen climate and energy (Q3 2023): Innovation and commercialization intensify as funding recovers

Recent Updates

Funding
Mar 5, 2024
Sunfire raises over EUR 500 million in funding to accelerate company growth
Hydrogen Economy
Funding
Aug 30, 2023
Sunfire receives EUR 169 million grant
Hydrogen Economy
Partnerships
Apr 18, 2023
Ionomr Innovations and Sunfire collaborate on industrial-scale AEM electrolysis
Hydrogen Economy
Management news
Feb 28, 2023
Sunfire appoints Frank Posnanski as CFO
Hydrogen Economy
Partnerships
Feb 1, 2023
Sunfire to deploy 30 megawatt electrolyzer for Uniper’s Project Air
Hydrogen Economy
Partnerships
Jan 12, 2023
Sunfire partners with Vitesco for alkaline electrolyzer production
Hydrogen Economy

Company Brief


HQ location:
Gasanstaltstraße 2 Dresden DEU
Founded year:
2010
Employees:
251-500
Total Funding:
USD 1.0 billion
Last Funding
USD 233.4 million, Mar 2024

Funding


Investors


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