Yara Growth Ventures invests in Denmark's Dynelectro
12 Mar 24 2 min read
Insights
- Yara Growth Ventures invests in Dynelectro, a tech firm tackling SOE challenges.
- Dynelectro's innovations extend SOE system lifetime from 2 to 10 years, facilitating integration with intermittent renewables.
- Yara aims to advance fertilizer production decarbonisation and promote the hydrogen economy, contributing to sustainable global food supply.
Dynelectro’s 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. While solid oxide electrolysis has the best potential for low cost, it suffers a niche existence due to system lifetime issues. We believe Dynelectro will overcome these issues and pave the way to make low-cost renewable hydrogen a reality says Björn Heinz, investment director and part of the Yara Growth Ventures team
- Decarbonization of the fertilizer value chain is an essential part of securing global food supply in a sustainable way and one of our primary objectives. Investing in companies like Dynelectro realizes that strategy by supporting new technologies for the production of affordable low-emission end products. We are excited to join forces with them, says Heinz
Dynelectro: 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 Dynelectro’s CEO Sune Lilbæk
The investment follows the company’s seed investment round, which was led in May 2023 by The Export and Investment Fund of Denmark (EIFO), Denmark’s national promotional bank and export credit agency, with contributions from Vsquared Ventures, a leading European deep-tech fund, and further local venture investors. The funding will be used for demonstration projects and further technology development.
Note: The content of this press release has not been edited by Fibre2Fashion staff.
Fibre2Fashion News Desk (HU)
Popular News
|
Bangladesh Bank’s exchange rate policy change sparks taka freefall |
|
ICE cotton resilient amid market uncertainties; eyes on key reports |
|
European fashion giants post diverse regional performance in Q1 FY24 |
|
US cotton exports see notable increase over last week: USDA |
|
Euro area seasonally-adjusted Mar unemployment rate 6.5%; 6% for EU |
|
US brand Under Armour unveils vanish Pro Tees with NEOLAST innovation |