German electrolyser developer and manufacturer, Sunfire announced on Wednesday (July 13) it had become the ‘first’ green hydrogen company based in the European Union to receive an investment from Amazon’s $2bn Climate Pledge Fund.
Sunfire has said the investment comes as the company prepares to increase its production capacity from megawatt to gigawatt-scale to meet the surging demand for its hydrogen production technology.
Amazon has set out goals to hit Net Zero carbon emission across its operations by 2040, and by funding firms such as Sunfire it hopes to facilitate the transition to a Net Zero carbon economy.
In addition to the investment, Sunfire revealed in March (2022) it had secured capital for its hydrogen technology industrialisation plans, having closed a €195m ($195.2m) Series D round, as well as being set receive grant funding under the Important Projects of Common European Interest (IPCEI).
Commenting on the investment, Nils Aldag, CEO of Sunfire, said, “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.”
Kara Hurst, Vice-President for Worldwide Sustainability at Amazon, added, “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.
“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.”
In December 2020, hydrogen powered flight innovator, ZeroAvia, announced that it had received funding from Amazon’s Climate Pledge Fund, in addition to further investments from Shell and Breakthrough Energy Ventures.
An interactive platform for specialty talks on the latest hot topics and key trends, given by influential industry figures and authorities.
With the help of an actively engaged audience, there is opportunity for a collaborative Q&A session with discussions, debates and live feedback.