Renewable fuels producer Neste invests in cleantech company Sunfire

Renewable diesel and sustainable aviation fuel producer Neste has acquired a minority stake in German cleantech company Sunfire, a developer of high-temperature electrolysis technology.

Sunfire’s patented technology allows the production of renewable hydrogen, as well as the direct conversion of water and carbon dioxide (CO2) into raw material for petrochemical products.

“Over the past decade, Neste has transformed itself from a regional oil refining company into a global leader in renewable and circular solutions through breakthrough innovation,” said Peter Vanacker, president and CEO of Neste. “As part of Neste’s growth strategy, we continue to focus on innovation with the aim to develop the existing businesses and build new growth business platforms. One of these fields of innovation is Power-to-X.

“The key technology in the Power-to-X platform is electrolysis. It enables the production of emission-free renewable hydrogen and conversion of CO2 into fuels, chemicals and materials. Thus it transforms a problem into a solution. Sunfire’s highly efficient technology and world-class expertise in Power-to-X, together with our proven track record in commercializing new sustainable technologies, provides an excellent basis for further development of the Power-to-X solutions.”

Nils Aldag, managing director of Sunfire, added: "Having the world’s number one provider of renewable fuels at our side will strengthen our position as a leading supplier of Power-to-X solutions for green synthetic fuel and hydrogen production. The partnership with Neste is in line with our strategy to engage with the best companies in order to supply renewable energy to industrial value chains. Neste will provide Sunfire with excellent insight into renewable fuel markets and deep expertise in engineering, procurement, and construction.”

Both companies will also work to demonstrate the production of renewable hydrogen at Neste’s refinery with Sunfire’s high-temperature electrolyser.