German electrolyser manufacturer Sunfire has announced a significant financial milestone with 215 million euros raised in a Series E equity financing round, further complemented by a term loan of up to 100 million euros provided by the European Investment Bank (EIB) and access to approximately 200 million euros from previously approved grant funding.

These funds will further boost the company’s critical role in ramping up the hydrogen economy. The Series E transaction is subject to customary regulatory approvals and is expected to close in Q2 2024. Sunfire has welcomed LGT Private Banking, GIC, Ahren Innovation Capital, and Carbon Equity as new investors.

In addition to the new investors, existing shareholders have increased their investment in Sunfire – among them Lightrock, Planet First Partners, Carbon Direct Capital, the Amazon Climate Pledge Fund, and Blue Earth Capital.