Energy: Gas power plant start-up raises 150 million euros - and can barely keep up with orders
A young company from Bavaria has developed a new technology to generate electricity more efficiently - and is attracting a lot of interest from buyers and investors.
A start-up company named Reverion has managed to secure a substantial investment of approximately 150 million Euros from several new investors, including insurers Allianz, the KfW Development Bank, and investment platforms Aurum Impact and Carbon Equity. These funds were raised in addition to existing investors, contributing to Reverion's rapid growth in the market.
Johannes von Borries, Managing Partner at UVC Partners, a prominent stock investor, praised Reverion's performance, stating that the company surpasses similar competitors who have achieved billion-dollar valuations. This success is a clear indication that Europe is not only keeping up with advancements in Deeptech (deep technology) but is also taking the lead, according to Borries. Reverion has been nominated for the German Future Prize, further highlighting its achievements.
The global trend of increasing energy consumption due to data centers, electric vehicles, and heat pumps has paved the way for Reverion's success. Germany, too, is planning to build numerous new gas power plants, with established energy corporations ready to invest. Reverion's unique selling point lies in its special technology: a container housing a fuel cell, similar to the ones used in hydrogen vehicles.
Fuel cells can convert both hydrogen and natural gas into electricity, providing a significant efficiency advantage over conventional power plants.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
