Yara Growth Ventures invests in Dynelectro – an innovation leader in electrolysis technology for low-cost renewable hydrogen | Yara International
Summary
Yara Growth Ventures invests in Dynelectro, who develops technologies to unlock the potential of solid oxide electrolysis (SOE). The investment is part of Yaras ambition to decarbonize fertilizer production and enable the hydrogen economy.Dynelectros approach increases the lifetime of SOE systems dramatically from typically 2 to 10 years, and it also allows for integration of SOE with intermittent renewable electricity a key requirement for large scale adoption.Yara Growth Ventures: Decarbonization of the fertilizer value chain is an essential part of sustainably securing global food supply- Electricity is the key driver for the cost of renewable hydrogen. We are excited to join forces with them, says HeinzDynelectro: Our first industrial investor and a significant milestone- The addition of Yara Growth Ventures is a significant milestone as they are our first industrial investor thereby demonstrating market readiness and pull for innovation within clean sustainable technologies, says Dynelectros CEO Sune Lilb\xe6kThe investment follows the companys seed investment round, which was led in May 2023 by The Export and Investment Fund of Denmark (EIFO), Denmarks national promotional bank and export credit agency, with contributions from Vsquared Ventures, a leading European deep-tech fund, and further local venture investors. Its leading technology advances solid-oxide electrolysis to unprecedented system performance and lifetime while enabling operators to seamlessly adjust production in response to the availability of cost-effective renewable energy. The company commercialises highly efficient 1+ MW Dynamic Electrolyser Units to deliver clean hydrogen, syngas, or e-fuels, as well as grid ancillary services.