The fuel cell and electrolyser producer has raised an eight-figure sum from CEZ, Total and the EDF-funded Electranova Capital.
Germany-based electrolyser and fuel cell developer Sunfire secured an eight-digit undisclosed amount of funding yesterday in a round led by Inven Capital, the corporate venturing arm of energy utility CEZ.
The round also included Total Energy Ventures, petroleum producer Total’s strategic investment subsidiary, and Electranova Capital, the venture capital fund sponsored by utility EDF.
Founded in 2010, Sunfire produces high-temperature electrolysis cells and high-temperature solid oxide fuel cells, allowing electric power and heat to be generated on-demand at the point of consumption.
Total Energy Ventures and Electranova previously provided an undisclosed seven-figure sum for Sunfire in February 2014. Its other investors include ERP Startfonds, which is run by development bank KfW.
Nils Aldag, Sunfire’s chief financial officer, said: “The agreements reached with new investors represent a conscious move to strengthen our international network, especially in the Central and Eastern European markets. We are delighted to have acquired an ideal strategic…
