Synhelion has secured a further financing round of CHF 22 million, primarily from existing investors and selected new strategic investors, including Swiss International Air Lines (SWISS). The financing will help accelerate the company's growth. It will also help further scale and commercialize Synhelion's proven and unique technology.
Sustainable fuels are becoming increasingly important as the mobility sector decarbonizes. An important aspect of this is the effort to achieve the climate goal of net zero emissions by 2050. Synhelion's solar fuels offer an important solution in the fight against climate change, as they can directly replace fossil fuels and thus significantly reduce net CO2 emissions. The drop-in fuels are characterized primarily by their ability to be used in existing fuel distribution networks, so they are fully compatible with existing aircraft, cars, trucks, and ships.
World's first industrial solar fuel plant at Synhelion
In August 2022, Synhelion reached the final relevant technical milestone for the industrial production of sustainable solar fuels. The company succeeded in producing syngas on an industrial scale using solar heat. Subsequently, construction began on the world's first industrial-scale plant to produce sustainable fuels using solar heat - DAWN.
With the help of the additional investment, Synhelion will carry out the construction of DAWN and continue to scale up fuel production. This will include technical development and construction planning for the first commercial plant in Spain. Synhelion's existing and new investors include SMS group, CEMEX, Eni, AMAG Group and SWISS. The support of these world-leading companies, in addition to the important financial backing, will enable Synhelion to create an exchange of technical know-how that will help accelerate the industrialization and global deployment of solar fuel technology.
"We have made tremendous progress this year. This round of financing and the commitment of our investors are fantastic recognition of our performance, success, and prospects. The investment will help us continue to significantly scale the company and accelerate the commercialization of our unique technology," said Philipp Furler, CEO, and co-founder of Synhelion.
"We are grateful for our investor network and excited to welcome the new investors to the group who share our vision of more sustainable mobility. Having investors like CEMEX, SWISS, SMS group, Eni and AMAG Group on board as partners who believe in us and our technology is very valuable and means a lot to us," adds Gianluca Ambrosetti, CEO and co-founder of Synhelion.
SWISS supports market launch of Synhelion's fuels
Synhelion's proven strategic partners include SWISS and the Lufthansa Group. SWISS is increasing its commitment to sustainability, which has been underpinned by its investment in Synhelion. The company aims to be the world's first airline to use solar kerosene. Subsequently, Synhelion's fuel will also be available to the entire industry.
"Over the last year, we have intensified our strategic partnership with Synhelion and are now actively driving the scaling of sustainable fuel production with our investment," said Dieter Vranckx, CEO of SWISS.
