Synhelion raises funds for industrial solar fuel plant
15 December 2022 12:40
According to a press release from Synhelion, a solar fuel pioneer from Lugano, it has raised a total of 22 million Swiss francs from new and existing investors in a funding round. The funds will be used for “the world’s first industrial plant to produce sustainable fuels using solar heat”.
In August, Synhelion proved that solar syngas could be manufactured on an industrial scale. Founded as a spin-off from the Swiss Federal Institute of Technology Zurich in 2016, the company now plans to start industrial production of solar fuels in Germany as early as next year. The first commercial production facility is expected to be put into operation in Spain in 2025.
During the recent funding round, Swiss International Air Lines (Swiss) invested in Synhelion. The airline has already been working with Synhelion for several years and will be the first buyer of its solar aviation fuel. A corresponding press release from the airline states: “The investment further underlines SWISS’s firm commitment to sustainability and to helping accelerate the process of bringing solar fuels to market.” Swiss CEO Dieter Vranckx commented: “We are delighted that, with our new financial involvement, we can now make a further substantial contribution to helping Synhelion scale up and commercialize its innovative alternative fuel product.”