Dresden-based electrolyser manufacturer Sunfire has secured $206m in financing from a consortium of banks led by Frankfurt-headquartered Commerzbank.
The German federal government and the Free State of Saxony have agreed to guarantee 80% of this credit facility. The remaining 20% has been guaranteed by the consortium of banks, which includes France’s Société Générale and BNP Paribas, as well as German banks LBBW and Ostsächsische Sparkasse Dresden.
Sunfire, which manufactures both alkaline and solid-oxide electrolysers, noted in a press statement that the financing “eliminates the need” to tie up its own funds as cash collateral against advance customer payments, in the event that an order would need to be refunded.
United H2 Limited welcomes this landmark project, recognising its potential to drive innovation in hydrogen production and export markets, accelerating the global transition to clean energy.
United H2 Limited is pleased that governments continue to back hydrogen as the fuel of the future.