Luxembourg tech company Paul Wurth joins SunFire
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.