Swiss solar fuel pioneer Synhelion SA, a portfolio company of Moonshot, has raised a total of CHF 16 million as part of a Series B financing round. The funding round was led by Swiss KMU Partners, with major backing from Orchilla, and SMS Concast, part of the SMS group, with additional support from CEMEX Ventures, AMAG, and private investors.
Synhelion intends to use this fresh capital injection to build the world’s first plant for the industrial production of solar fuels in Jülich, a town in the German state of North Rhine-Westphalia. It will cover the entire integrated technology chain from concentrated sunlight to synthetic, liquid fuel. The specific end products will take the form of solar kerosene and solar gasoline.
"The financing round continues our tremendous progress in recent months, for example, the acquisition of Heliokon and the funding by the German Federal Ministry for Economic Affairs and Energy. With the help of our investors' resources and experience, we will accelerate the commercialization of our technology" Synhelion CEO Dr. Philipp Furler.
In September, Synhelion took over the German company Heliokon GmbH, an expert in concentrated solar energy technology. The takeover brings together the complementary technologies of the two companies so that Synhelion can offer a complete system for the production of solar fuels. The additional competencies will also enable the company’s technology to scale up faster and pave the way for a zero-emission transportation sector where carbon-neutral solar fuels replace fossil fuels.