Dynelectro, a Copenhagen, Denmark-based company which specializes in sustainable energy solutions, raises €11M in funding.
The round was led by Export & Import Fund of Denmark (EIFO), Yara Growth Ventures, Vsquared Ventures, PSV Deeptech, The Footprint Firm and the European Innovation Council (EIC) Fund.
Founded in 2018 and led by CEO Sune Lilbaek, Dynelectro develops advanced, sustainable energy solutions using solid-oxide electrolysis technology that achieve system performance and lifespan. Their innovations enable operators to adjust production based on the availability of cost-effective renewable energy. The company commercialises MW-scale Dynamic Electrolyser Units (DEUs), delivering clean hydrogen to unlock syngas and e-fuel production.
The company intends to use the funds to build its innovative 1-MW Dynamic Electrolyser Unit (DEU) technology, facilitating broader deployment into the green hydrogen market.
FinSMEs
18/07/2024