Supporting a hydrogen emerging leader in Germany
Electrolyzers, which use electricity to split water into hydrogen and oxygen, are a critical technology for producing green hydrogen from renewable electricity. Sunfire, one of the world’s leading electrolysis companies, secured a EUR 200 million guarantee financing with the support from Societe Generale.
Sunfire’s offerings include pressurized alkaline (AEL) and solid oxide (SOEC) electrolyzers, establishing a unique portfolio for green hydrogen production. The company focuses on industrial-scale projects targeting energy and utility companies and boasts a strong order book with reputed clients like RWE or Uniper.
The facility will enable the Dresden-based company to advance industrial-scale projects and expand its role in the emerging hydrogen market. It will be used to secure customer advance payments as well as contract fulfilment and warranty obligations.
Financing a pioneer of the hydrogen technology
The financing was provided by a consortium led by Commerzbank and other leading commercial banks, including Societe Generale acting as a Tier 1 lender. This represents not only a vote of confidence in Sunfire but also a strong sign of support for the hydrogen industry and its role in addressing climate challenges and in enabling a sustainable transformation of the German industry.
The financing sends a strong signal highlighting the importance of climate technologies, the sustainable transformation of German industry and Sunfire’s strong performance.
The support of our banking partners like Societe Generale on this deal demonstrates their confidence in young companies and future-oriented technologies. It shows that Germany is determined to make its industry sustainable and fit for the future, Frank Posnanski, CFO of Sunfire
For companies with a well-developed sustainability strategy such as Sunfire, access to sustainable finance is crucial. Societe Generale acted as one of the leading banks for this highly visible transaction, which further demonstrates our support for the energy transition and shows that we are committed to providing our expertise to help our clients across the full spectrum of our financial solutions, Ralph Neher, Senior Banker, Societe Generale
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