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Luxembourg tech company Paul Wurth joins SunFire

9. Janu­ary 2019

Luxem­bourg — SunFire has success­fully closed a EUR 25 million Series C finan­cing round. The new lead inves­tor is the Luxem­bourg tech­no­logy company Paul Wurth S.A. . LUTZ | ABEL advi­sed Paul Wurth in the context of the transaction.

SunFire GmbH, foun­ded in 2010, is a deve­lo­per and manu­fac­tu­rer of highly effi­ci­ent elec­tro­ly­zers and fuel cells. With its tech­no­lo­gies, the company produ­ces climate-neutral fuels and gases for sectors that curr­ently can hardly do without fossil fuels, e.g. heavy-duty trans­port, avia­tion, steel produc­tion or chemicals.

The new lead inves­tor, Luxe­m­­bourg-based tech­no­logy company Paul Wurth S.A., is part of the SMS group, the world’s leading machinery and plant manu­fac­tu­rer for the metals indus­try. With the fresh capi­tal and the renow­ned tech­no­logy part­ner, SunFire plans to imple­ment multi-mega­­­watt projects. For Paul Wurth, this invest­ment offers the oppor­tu­nity to enter the growing market for e‑fuels. In addi­tion to Paul Wurth, previous inves­tors INVEN Capi­tal, Idin­vest Part­ners, Total Energy Ventures and a group of private inves­tors also parti­ci­pa­ted in the finan­cing round.

LUTZ | ABEL advi­sed the lead inves­tor Paul Wurth under the leaders­hip of venture capi­tal expert Dr. Marco Eick­mann. — With around 60 lawy­ers and offices in Munich, Hamburg and Stutt­gart, the commer­cial law firm LUTZ | ABEL provi­des advice on all aspects of commer­cial law.

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