Synhelion will use the funding to build and operate the world’s first plant capable of producing solar fuels at an industrial scale. From 2023 onward, Synhelion will produce next-generation synthetic fuels directly using solar heat.
The investment comes at a time when stricter decarbonization targets are being imposed on the aviation industry, which is notoriously difficult to electrify. Additionally, long-distance transportation such as freight, shipping, and aviation requires extremely high energy densities that current battery technology cannot reach. Liquid synthetic fuels can achieve these densities and are therefore an ideal energy carrier.
Synhelion’s solar fuels are a climate-friendly substitute to fossil fuels, enabling sustainable transportation without changing current equipment. They are renewable and fully compatible with conventional internal combustion engines, aircraft engines, and existing fuel infrastructure. From 2023 onward, Synhelion will produce next-generation synthetic fuels directly using solar heat. The direct use of solar heat offers improved efficiency for synthetic fuel production.
Establishing the world’s first industrial plant for solar fuels
The funding round enables Synhelion to build and operate the world’s first industrial production plant for solar fuels. To be located in Jülich, Germany, the plant will cover the entire process on an industrial scale, from concentrating sunlight to producing synthetic liquid fuel. Synhelion’s new investors have a strong track record and extensive knowledge in their respective industries. 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.
Swiss KMU Partners AG (SKP AG), domiciled in Rapperswil-Jona, is a multi-family office dedicated to sustainable and future-oriented investments with attractive returns. Its primary focus lies on Swiss investments in listed equities, real estate and alternative investments with the ambition to strengthen and foster Swiss quality, innovation, prosperity and sustainability (impact investments).
SMS Concast, a company of the SMS group, is the leading partner for continuous casting technology for the production of long products in steelmaking. The company applies its 150 years of experience and its digital know-how to provide the industry continuously with innovative products and processes – even beyond its core business – and generates worldwide sales of more than 2.7 billion euros.
(Press release / SK)
Photo: Test facility German Aerospace Center near Cologne / Source: Synhelion
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