Berlin, March 2024 – YPOG advised German electrolyzer manufacturer Sunfire GmbH on its Series E financing round, which raised €215 million in equity capital. New investors include LGT Private Banking, GIC, Ahren Innovation Capital and Carbon Equity. The transaction is subject to customary regulatory approvals and is expected to close in Q2 2024.
Existing shareholders have increased their investment in Sunfire – including Lightrock, Planet First Partners, Carbon Direct Capital, the Amazon Climate Pledge Fund, and Blue Earth Capital.
The renewed investment in Sunfire, which is one of the largest financing rounds in 2024 to date, is a strong signal of the company's decisive role in expanding the hydrogen economy in a difficult financial environment.
In addition, the company has also secured a loan of up to €100 million from the European Investment Bank (EIB), which will enable it to continue the development and industrialization of solid oxide electrolyzers.
Furthermore, Sunfire has access to approx. €200 million from previously approved, undrawn grant funding to support its growth, which makes Sunfire one of the best capitalized electrolyzer manufacturers in the industry.
Team
Dr. Martin Schaper (Co-Lead, Transactions), Partner, Berlin
Dr. Frederik Gärtner (Co-Lead, Transactions), Partner, Berlin
Dr. Malte Bergmann (Tax), Partner, Hamburg
Matthias Kresser (Finance), Partner, Berlin/Hamburg
Dr. Benedikt Flöter (IP/IT/Data Protection), Associated Partner, Berlin
Dr. Ferdinand Cadmus (Finance), Associated Partner, Berlin/Hamburg
Alexander Sekunde (Transactions/FDI), Senior Associate, Berlin
Dr. Jonas von Kalben (Transactions/FDI), Senior Associate, Berlin
Benjamin Müller (Transactions), Associate, Berlin
Roman Schäle (Transactions), Associate, Berlin
About Sunfire
Sunfire is a global leader in the production of industrial electrolyzers based on pressurized alkaline and solid oxide (SOEC) technologies. With its electrolysis solutions, Sunfire is addressing a key challenge of today’s energy system: Providing renewable hydrogen and syngas as climate-neutral substitutes for fossil energy. Sunfire’s innovative and proven electrolysis technology enables the transformation of carbon-intensive industries that are currently dependent on fossil-based oil, gas, or coal. The company employs more than 500 people located in Germany and Switzerland.
Download Press Release: YPOG advises Sunfire in connection with €500 million funding process to accelerate growth and industrialization of its green hydrogen technologies
