• Sunfire, a German electrolyzer developer, has received grant funding of EUR 60 million (USD 68 million) from the Federal Ministry of Education and Research to lead the H2Giga project.

• The grant will be utilized by Sunfire and its partners to develop the company’s solid oxide electrolyzer cell (SOEC) technology and pressurized alkaline electrolyzers. 

• Sunfire and 15 SOEC partners will receive EUR 33 million (USD 37 million) for the deployment of manufacturing processes and development of SOEC technology, which is said to require 30% less renewable energy compared to existing technologies. 

• The remaining grant funding of EUR 27 million (USD 30.6 million) will be used by Sunfire and its eight partners to produce pressurized alkaline electrolyzers at an industrial scale. 

<ul><li> Analyst QuickTake: The grant follows Sunfire’s EUR 109 million (USD 125 million) Series D funding round in October 2021. This, coupled with the latest grant, would allow Sunfire to accelerate its commercialization efforts. Sunfire has also unveiled plans to build a large-scale alkaline electrolyzer production plant in Germany to be operational by 2023.</ul>