Sunfire, a German leader in electrolysis technology, has secured $206 million (€200 million) in guaranteed financing to advance industrial hydrogen projects. The financing was arranged by a consortium of banks led by Commerzbank, including Société Générale, BNP Paribas, LBBW, and Ostsächsische Sparkasse Dresden.

The deal includes an 80% guarantee from the German Federal Government and the Free State of Saxony, with the remaining 20% backed by the banks. This five-year arrangement allows Sunfire to utilize customer advance payments more efficiently without tying up its own funds as collateral.

The financing will accelerate the production of electrolyzers, enabling Sunfire to execute multiple industrial projects simultaneously and drive the development of the hydrogen market.

Frank Posnanski, CFO of Sunfire, described the deal as a "confidence boost for young companies and future-oriented technologies." Lars Ehle from Commerzbank called it a "model of transformation financing," while Stefan Wenzel, Parliamentary State Secretary for Economic Affairs, highlighted its alignment with Germany’s strategic and energy goals under the European Net Zero Industry Act.

Advisory support was provided by KPMG Debt Advisory and Clifford Chance.

Source: fuelcellsworks.com