High temperature, solid oxide cell electrolyzers produced at Sunfire's headquarters in Dresden, Germany.

Sunfire secures investment from Amazon

Dresden, July 14, 2022

The German developer and manufacturer of electrolyzers is the first EU-based green hydrogen company to receive an investment from Amazon’s Climate Pledge Fund. With its dedicated investment program, Amazon supports visionary companies that will accelerate its path to net-zero carbon.

"We are proud to welcome one of the most successful companies in the world as our investor. It’s a great recognition to be the first EU-based green hydrogen company to receive investment from Amazon. We are excited to work together toward a more sustainable future," says Sunfire CEO Nils Aldag.

Sunfire is a global leader for industrial electrolyzers. The company has a strong expertise in developing and manufacturing systems for generating green hydrogen from water and renewable electricity. The clean gas is essential for decarbonizing hard-to-electrify sectors such as aviation, steelmaking, long-haul trucking, and the production of chemical products.

While green hydrogen is urgently needed to decarbonize, electrolyzers are still in limited supply. Only a handful of companies are capable of producing systems on an industrial scale. With a team of 400 specialists and a track-record of more than 70 realized projects, Sunfire is among the sector leaders.

The company is already increasing its production capacity from megawatt to gigawatt-scale, providing key industrial players with large scale hydrogen generation plants. Amazon’s investment supports Sunfire’s scaling plans.

“Amazon is committed to being net-zero carbon across our operations by 2040. In pursuit of that commitment, we are proud to be investing in visionary companies like Sunfire through our Climate Pledge fund,” said Kara Hurst, Vice President for Worldwide Sustainability at Amazon. “Green hydrogen is an especially important piece of the clean energy puzzle in Europe, and Sunfire’s innovative products can help scale its production across the continent.”

With the investment, Sunfire secures further capital for the industrialization of its hydrogen technologies. Just this spring, the German electrolyzer company had closed a €195 million Series D round. In addition, Sunfire is to receive grant funding under the "Important Projects of Common European Interest (IPCEI)".

Goldman Sachs Bank Europe SE served as exclusive financial adviser and placement agent to Sunfire.


Image: © Sunfire