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>
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