The process of applying an electrical current to manipulate chemical reactions. - Sunfire commemorates securing a $100 million loan.
The EU plans to ensure its industries stay relevant in the future by taking two approaches, according to Sunfire Managing Director Nils Aldag. First, energy-intensive sectors need help reducing their carbon emissions and improving their productivity. Additionally, supporting companies like Sunfire is crucial for maintaining their edge on the global market. The loan granted to Sunfire will boost the company's confidence to expand production of electrolyzers, the next-generation technology.
Saxony's Economy Minister Martin Dulig (SPD) praised the Sunfire team as an outstanding example of the benefits of the eastern region, where entrepreneurs are revolutionizing industries with innovative ideas in areas such as the hydrogen economy. Based in Dresden, Sunfire is leading the charge for green energy and driving transformation in Europe's energy sector. The introduction of electrolyzers to European markets and their financing are crucial for solidifying the industrial base within the EU.
The European Investment Bank (EIB) serves as the EU's source for long-term financing. This institution is owned by member states and funds investments that align with the EU's primary goals. Projects should enhance EU competitiveness and promote sustainable development. Notably, Sunfire stands as a global leader in electrolysis. With over 650 employees working at its sites in Germany and Switzerland, the company plays a significant role in this sector.
