Reverion, a Munich, Germany-based climate tech startup for renewable energies, raised EUR8.5M in funding.
Backers included UVC Partners, Green Generation Fund, Extantia Capital, Doral Energy-Tech Ventures, and biomethane trader Landwärme GmbH.
The company intends to use the funds to expand the production of 100 kW and 500 kW biogas power plants.
Led by CEO Stephan Herrmann, and COO Felix Fischer, Reverion is a spin-off of the Technical University of Munich that develops container-based plants. The plants can replace conventional gas engines with their low efficiencies and can be operated with hydrogen in addition to biogas. In addition, plants produce pure CO2 as a byproduct of power generation, so they can operate CO2-negatively. They also are reversible, so that in the same plants excess renewable electricity from wind and photovoltaics can also be temporarily converted into hydrogen or methane as a substitute for natural gas.
Reverion has also received EUR12M of research capital, which will be used to develop the plants.
FinSMEs
27/04/2023