Dynelectro funding news – Copenhagen-based Dynelectro Raises €11 Million in Funding

Complemented by €9 million in grants from the European Innovation Council and the Danish Energy Technology Development and Demonstration Program (EUDP), plus other regional programs, Dynelectro will utilise the funds for the development of DEUs from 150-kW prototypes to the commercial-scale fully modular 1-MW units.

Dynelectro’s technology focuses on next-generation solid-oxide electrolysis (SOE) and offers unparalleled system performance and longevity. SOE aids decarbonisation in hard-to-abate sectors by efficiently producing hydrogen and utilising industrial waste heat.

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It supports heavy industries and chemical production by providing on-site hydrogen, reducing emissions, and generating synthetic fuels and enabling the green energy transition in these sectors. SOE is poised to revolutionise the energy sector by enhancing energy efficiency, reducing costs and to facilitate broader renewable integration.

Christian Winther, Partner, Tech & Industry, EIFO Investment said, “Dynelectro is an exemplary example of a company that has developed sustainable solutions with venture capital that we need both in Denmark and worldwide. We are pleased that a Danish company has cracked the code to make electrolysis more profitable, and how Dynelectro strengthens Europe’s position as a pioneer in Power-to-X,”.

Sune Lilbaek, Chief Executive Officer of Dynelectro said,“We are excited to reach this pivotal stage in our growth, This investment round not only validates our technology but also sets the stage for our growth and significant advancements in sustainable energy in general. The addition of the industrial giant, Yara, is significant as it demonstrates market interest for the technology. Yara operates the largest global ammonia network and leads the green transition in the fertiliser industry."

About Dynelectro

Founded in 2018, Dynelectro is at the forefront of developing advanced, sustainable energy solutions. Utilising cutting-edge solid-oxide electrolysis technology, Dynelectro achieves unprecedented system performance and lifespan.

Their innovations enable operators to seamlessly 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.