German start-up, Reverion, has raised €8.5 million in funding to ramp up production of its modular biogas power plants, which have the potential to double the efficiency of electricity generation. The company's small power plants can also run “backward”, allowing for a renewable natural gas substitute or green hydrogen to be produced and stored during periods of excess wind and solar power.
Reverion's co-founder and COO, Felix Fischer, revealed that the company has already secured over €60 million in pre-orders, stating, “Our objective is to break even by entering series production and rapidly scaling the number of units delivered.”
See also: Nordion Energi and Nature Energy Partner to Increase Biogas Production in Sweden
Stephan Herrmann, co-founder and CEO of Reverion, added, “Our technology addresses four out of the eight currently declared goals: improving storage, expanding electrolysis processes and fuel cells, increasing the use of biogas and biomethane, and carbon storage. Therefore, we are confident that a rapid and comprehensive market entry will give Germany and the EU a competitive edge in ultra-flexible and carbon-negative energy supply.”
The €8.5 million funding round, which precedes Reverion's Series A funding, was led by UVC Partners, Green Generation Fund, Extantia Capital, Doral Energy-Tech Ventures, and biomethane trader Landwärme GmbH. Reverion has also received €12 million in regional, national, and European grant funding.
Torben Schreiter, Partner at Extantia Capital, expressed his belief in Reverion's technology, stating, “When deployed at scale, Reverion can truly revolutionize the way we generate base load power around the world… Reverion has what it takes to scale this solution, become a global leader in renewable energy, and shape gigawatts of future clean energy.”
See also: Bosnian dairy farm convert biogas from animal faeces and silage into electricity
Reverion's modular biogas power plants could represent a significant step forward in the pursuit of renewable energy and sustainable energy generation. With its innovative technology and already significant interest from investors and customers alike, Reverion is set to make a substantial impact in the renewable energy market.
