Aster Capital leads financing round for SolarFuel

Share

SolarFuel will use the funds to accelerate development of its proprietary electrolysis and gasification technologies, and step up market development in Germany and elsewhere.

SolarFuel GmbH has collaborated with German research institutes to successfully develop the SolarFuel technology that enables the conversion of renewable electricity into synthetic natural gas, thereby allowing storage. The existing natural gas network becomes the cornerstone for renewable energy systems, and provides the storage and transport capacities which are unavailable in the power grid, as the company states.

Alexander Schlaepfer, Partner at Aster Capital says, "We have been looking for some time at what technologies are required to optimize large amounts of electricity generated by renewables and we recognized that SolarFuel not only presents a very viable solution to store energy but actually to arbitrage renewable energy between different uses."

SolarFuel already has an alpha plant successfully in operation connected to an electric load of 25kW with an overall power-to-gas efficiency of 40% (without optimization measures). A 6 MW demonstration plant is being planned with the goal being set to test the SolarFuel technology on a scale that is practical for the energy sector under real-life economic conditions.

Ventrex Automotive’s CEO Christian Planegger sees the opportunity to take SolarFuel to the "next level" and "capitalize on the already noticeably growing use of clean natural gas for mobility".

Alexander Schlaepfer and Christian Planegger will join SolarFuel’s board.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.