Sunfire, which is basically a company based on renewable energy startup has been able to make a name for itself in the global market by developing green hydrogen, off-grid, and mobile energy solutions for different commercial purposes. It again won huge popularity recently raising 25 million pounds in a short period of time.
This round of investment was led by Luxembourg based steel plant. The other investors in the market are Sunfire Entrepreneurs Club, Total Energy Ventures, INVEN Capital, ID invest Partners. The company Sunfire was started in the year 2010 and it has been there in the market since then. This company has been known in the market for having the highly efficient and effective fuel cells and electrolyzes which generally use green hydrogen.
Paul Wurth as a partner and investor of the company will provide total access to all the global metal industry, which from now will increase all the use of renewable hydrogen. The capital that the company Sunfire was able to raise will be used to begin implementation of the commercial multi-megawatt projects which will apply high-temperature electrolysis and Power to liquid technologies in the year 2019.
It is expected that the money raised will also be used to make sure that the company is able to increase their number of employees to work in a much more efficient manner. This company has made a lot of changes in a very short amount of time and with the latest investments, it will be able to make big changes in the long run.
The chief executing officer of Paul Wurth Georges Rassel has come out and said:
“They have seen a lot of potential in Sunfire and this is why they will be supporting them all the way till the end.”
The chief executing officer of the company Sunfire, Carl Berninghausen has come out and thanked all the companies which have participated in the latest round of investment. They are expecting to use the money in the right way so that they are able to grow in a faster manner and also successfully able to give the money borrowed from the investors.