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Dynelectro secures 11 million euros for solid oxide electrolysis technology

Sustainable Danish green hydrogen company Dynelectro has completed an investment round of 11 million euros.

Dynelectro’s technology focuses on next-generation solid oxide electrolysis (SOE), delivering unprecedented system performance and longevity.

Current electrolysis technologies waste 25 to 50 percent of the electricity used, limiting their commercial and sustainable potential. SOE offers the highest conversion efficiency but is compromised by its short lifetime, making it prohibitively expensive.

SOE supports decarbonisation in sectors where emission reduction is difficult by efficiently producing hydrogen and using industrial waste heat. It supports heavy industry and chemical production by providing hydrogen on-site, reducing emissions, producing synthetic fuels and enabling the energy transition in these sectors.

Dynelectro’s AC:DC technology extends the lifetime of SOE from 2 to 10 years, bringing it in line with other electrolyzer technologies. This advancement reduces costs and enables rapid production adjustments, helping to balance the grid through ancillary services.

Dynelectro has become an important partner for Power-to-X developers looking to reduce the cost of green hydrogen.

“We are pleased to have reached this crucial phase of our growth,” said Sune Lilbaek, Chief Executive Officer of Dynelectro.

“This round of investment not only validates our technology, but also lays the foundation for our growth and significant advances in sustainable energy in general.”

The investments come from various early-stage investors, including the Danish Export & Import Fund Organisation (EIFO), Yara Growth Ventures, Vsquared Ventures, PSV DeepTech, The Footprint Firm and the European Investment Bank (EIB).

The investment by Yara International, through its investment arm Yara Growth Ventures, is significant as it demonstrates industry interest in the technology. Yara is the world’s second-largest ammonia producer and is leading the transition to low-carbon solutions.

“Dynelectro is an exemplary example of a company that has used venture capital to develop sustainable solutions that we need both in Denmark and globally,” says Christian Winther, Partner, Tech & Industry, EIFO Investment.

Eva Nielsen, Global PTX Advisor, Ramboll Group, says:

“Dynelectro has made inventions and owns rights to several significant patents that have the potential to lead to a significant breakthrough for hydrogen technology and Power-to-X.”

Completion of the installation of the first 1 MW unit at European Energy’s renewable energy facility in Denmark is scheduled for the first half of 2025, demonstrating the practical applications and benefits of this advanced energy solution.

Complemented by €9 million in grants from the European Innovation Council and the Danish Energy Technology Development and Demonstration Programme (EUDP) and other regional programmes, Dynelectro will use the funds to develop DEUs, from 150 kW prototypes to fully modular 1 MW commercial-scale units.

This funding will enable the company to further develop its innovative 1 MW Dynamic Electrolyser Unit (DEU) technology, enabling broader deployment in the green hydrogen market.

Cover photo: Dynelectro. Photo: no credit given.

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