German startup Reverion has raised $62 million in a Series A funding round, Datacenter Dynamics reports. Reverion is developing containerized micro-power plants with “negative” carbon emissions and will use the funds to start mass production of its products. The company says it already has more than $100 million in pre-orders.
During the A round, the company received more proposals than it planned. Including funds received from the so-called. non-dilutive financing that does not entail a reduction in the share of existing investors. The round was led by Energy Impact Partners (EIP) with participation from Honda and the European Innovation Council Fund (EIC Fund). They were also joined by existing investors – Extantia Capital, UVC Partners, Green Generation Fund, Doral Energy-Tech Ventures and Possible Ventures.
Reverion is the brainchild of the Technical University of Munich, which became an independent business unit in 2022. Its solid oxide fuel cell power plants fueled by biogas are claimed to provide power generation efficiencies of up to 80%. This is noticeably better than traditional modules. At the same time, if there is excess energy in the network, for example, from solar and wind sources, the Reverion power plant switches to electrolysis and itself produces “green” hydrogen or methane, which is stored for the future.
Image source: Reverion
Biogas is supplied to the system, after which hydrogen sulfide and other impurities are removed from it. The gas is preheated and fed into a fuel cell where it is oxidized to produce electricity. A station in a standard 20-foot container provides up to 100 kW, and in a 40-foot container – up to 500 kW. At the same time, it is capable of capturing CO2 released during energy generation.
Reverion says farmers with biogas power plants are suffering from increased regulatory requirements and restrictions associated with traditional technologies. It is for this market segment that the company offers its solutions. Some experts suggest that the company is capable of becoming a leader in its segment not only in Europe, but also on a global scale.
However, it already has many competitors. In the US alone, the Department of Energy has allocated $750 million to expand the production of hydrogen cells and electrolyzers. Many data center operators are introducing or intend to introduce gas fuel cells, and some companies like Plug Power are already developing and manufacturing them.