Germany’s Sunfire has secured an order for up to 640MW of pressurised alkaline electrolyser capacity from Danish clean energy fund manager Copenhagen Infrastructure Partners (CIP).

The Dresden-based electrolyser manufacturer has also raised €86mn ($95mn) of new investment aimed at scaling up its production.

CIP has agreed to buy the electrolysers from Sunfire to supply part of its growing pipeline of power-to-X projects, which involves several gigawatts of capacity.

“This agreement adds huge value for all parties involved”, says Sunfire CEO Nils Aldag.

“While CIP can rely on the most advanced electrolysis technology and our highly dedicated expert team, we showcase our ability to deliver commercially scalable projects.”

CIP—one of the world’s largest clean energy fund managers—has also invested in Sunfire’s latest capital raise alongside Switzerland-based Blue Earth Capital. Existing shareholder Carbon Direct Capital Management also increased its stake.

The new investments have extended Sunfire’s capital fundraising, which initially secured €109mn in October 2021, to €195mn.

Sunfire aims to use the capital to fund the scaling up of its electrolyser production, which is based on alkaline and solid oxide (SOEC) technologies.

“Political developments make us realise how quickly the green hydrogen market needs to grow,” says Aldag.

“As a leading global electrolysis company, we want to make a significant contribution to European energy independence and help to fight climate change. With the funds raised, we can consistently and rapidly drive our growth in Europe.”

Earlier this week, Sunfire confirmed it will supply a 20MW electrolyser to Finnish company P2X, which aims to produce Finland’s first green hydrogen at a plant in Harjavalta from 2024.

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Author: Stuart Penson