Sunfire has secured €200m ($206.5m) in guaranteed financing to drive the scale-up of its alkaline electrolysis technology and accelerate growth in the hydrogen market.
Based in Dresden, the German firm has been backed by a consortium led by Commerzbank and other leading German and European commercial banks. H2 View understands that the financing has a five-year term.
Around 80% of the financing has been secured by parallel default guarantees from the German Federal Government and the Free State of Saxony, with the remaining 20% provided by the banks themselves.
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