Green hydrogen: Taylor Wessing advises existing investors on €500 million financing of Sunfire

Taylor Wessing has advised Eurazeo Global Investor, Aster Energy Ventures, SF Beteiligungs GmbH & Co. KG and Inven Capital on the Series E financing round of the German electrolysis company Sunfire GmbH. 

In the financing round, the Dresden-based cleantech start-up raised €215 million in new equity capital. In addition, there is venture debt financing from the European Investment Bank (EIB) of up to €100 million and approximately €200 million from already approved subsidies. The new investors include LGT Private Banking, GIC, Ahren Innovation Capital and Carbon Equity. Further existing investors have increased their investment. The transaction is subject to customary regulatory approvals and is expected to close in the second quarter of 2024.

Sunfire is a leading global electrolysis company that develops and manufactures industrial electrolysers based on alkali and solid oxide technologies (SOEC). With its electrolysis solutions, Sunfire is focused on providing green hydrogen and syngas as a climate-neutral substitute for fossil energy.

Legal advisors Eurazeo Global Investor, Aster Energy Ventures, SF Beteiligungs GmbH & Co. KG and Inven Capital

Taylor Wessing Germany: Lead Dr Jens Wolf (Partner), Philipp Hoegl (Salary Partner), Philipp Bergjans (Associate), all M&A/Venture Capital, all Hamburg