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CIP, Through Copenhagen Infrastructure Energy Transition, Participates in the Capital Raising of Sunfire, a Leader in the Production of Industrial Electrolyzers, and Enters Into an Agreement for Up to 640 MW Electrolysis Offtake

By March 25, 2022 4   min read  (750 words)

March 25, 2022 |

Fuel Cells Works, Five Things You Need to Know About Green Hydrogen

Copenhagen Infrastructure Partners (CIP) and Sunfire are pleased to announce a framework agreement for up to 640 MW of electrolysis to supply a portion of CIP’s multi-GW Power-to-X project pipeline.

To scale CIPs Power-to-X projects, CIP requires reliable, industrial electrolysis systems which are currently in limited supply. By partnering with Sunfire, CIP secures substantial electrolysis capacity. In addition, CIP participates, together with Blue Earth Capital (Blue Earth), in Sunfire’s latest capital raising to enable the scaling of the company’s hydrogen technologies.

“This agreement adds huge value for all parties involved”, says Sunfire CEO Nils Aldag. “While CIP can rely on the most advanced electrolysis technology and our highly dedicated expert team, we showcase our ability to deliver commercially scalable projects.”

Comments from the investors

Felix Pahl, Partner at Copenhagen Infrastructure Partners: “One key factor to drive down the cost of green hydrogen is the industrialization of the manufacturing of electrolyzers and CIP plans to participate in this through partnerships and framework agreements. Sunfire is a leader in electrolysis technology, which will be the key component in the decarbonization of hard-to-abate sectors and a contributor to European energy independence. With a strong team and backing from a strong investor base, we expect that Sunfire can be a driver of the industrialization of the green hydrogen sector and thereby contribute significantly to net zero emissions and energy security targets.”

Kayode Akinola, Global Head of Private Equity Direct Investments at Blue Earth Capital: “We believe Sunfire is well positioned at the nexus of energy security and the net zero transition. Green hydrogen has the potential to transform some of the world’s most emissions-intensive industries, many of which have no alternative pathways to fully decarbonize. With its leading track record in two of the preeminent electrolyzer technologies, Sunfire is poised to play a key role in fulfilling this promise. We are excited to be partnering with the Sunfire team and shareholders by providing growth capital and support to help scale operations within existing and new markets.”

Jonathan Goldberg, CEO of Carbon Direct: “We believe that scaling green hydrogen is a climate imperative. Involvement from customers like CIP speak to the technical and commercial readiness of Sunfire’s green hydrogen solutions.”

About Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners P/S is the world’s largest dedicated fund manager within greenfield renewable energy investments, and a leader in offshore wind globally. At COP26 CIP announced the ambition and a roadmap for increasing and accelerating its role in delivering on the energy transition by deploying EUR 100bn into green energy investments by 2030.

CIP manages nine funds and has approx. EUR 16 billion of assets under management focused on investments in energy infrastructure, including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, and other energy assets like Power-to-X. Today CIP’s funds have approximately 100 international institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and North America and multi-lateral organizations e.g. EIB. CIP has approximately 300 employees and offices in Copenhagen, London, Hamburg, Utrecht, New York, Tokyo, Singapore and Melbourne. The Sunfire investment will be part of CIP’s Energy Transition Fund I, which focuses on Power-to-X and other next generation renewable technologies in order to facilitate the decarbonization of hard-to-abate sectors such as steel, agriculture and transportation.

For further information please visit www.cip.dk

About Sunfire

Sunfire GmbH is a global leader in the production of industrial electrolyzers based on alkaline and solid oxide (SOEC) technologies. With its electrolysis solutions, Sunfire is addressing a key challenge of today’s energy system: providing renewable hydrogen and Syngas as climate-neutral substitutes for fossil energy. Sunfire’s innovative and proven electrolysis technology enables the transformation of carbon-intensive industries that are currently dependent on fossil-based oil, gas, or coal. The company employs more than 370 people located in Germany and Switzerland.

For further information please visit www.sunfire.de/en/

About Blue Earth Capital

Blue Earth Capital is a global impact investment firm headquartered in Zug, Switzerland, with operations in London, New York and Singapore. Blue Earth Capital seeks to invest in businesses that address pressing environmental and social challenges, whilst generating market-rate financial returns. Initiated in 2015 by Urs Wietlisbach, one of the founders of Partners Group, and backed by the Ursimone Wietlisbach Foundation, Blue Earth Capital has been incubated by and built up with the support of Partners Group, leveraging its experience as a leading global private markets firm.

For further information please visit www.blueearth.capital

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