$175m · Other round · Energy · Eresing, Germany
Eresing-based Reverion has raised $175m in a financing described by the company and reporting as a Series B, led by deeptech and climate fund Kembara. New investors Allianz, KfW Capital, Aurum Impact and Carbon Equity joined existing backers including Extantia, Energy Impact Partners, UVC Partners, the European Innovation Council Fund, alfa8 and Possible Ventures. Reverion said the capital will fund a new German megafactory, expand annual manufacturing capacity tenfold to 250 MW and move its systems into the megawatt class. EU-Startups
Scale turns efficiency into a delivery problem
Reverion builds containerised solid-oxide fuel-cell plants that convert gas into electricity electrochemically rather than through combustion. The company says its systems have achieved 74.2% electrical efficiency in customer operation. They also separate CO2 in a concentrated stream and can run in reverse, using surplus electricity to make hydrogen or methane for storage. When fuelled with biogas and paired with permanent storage of the captured biogenic CO2, Reverion says the system can operate with a negative carbon balance. Reverion · Doosan partnership
The commercial question is now less about proving the core conversion process than producing and deploying enough systems reliably. Reverion reports seven commercial plants operating at customer sites, with output per unit upgraded to 500 kW. Its August supply agreement with Doosan Fuel Cell secures a core component for series production after stacks had run continuously at several customer sites since 2025. The new factory is intended to lift annual capacity to 250 MW and support a project pipeline that Reverion says carries more than $2bn of potential revenue. EU-Startups · Reverion
Data centres are one target because on-site generation can provide firm power while grid connections lag. Reverion's systems can use existing gas infrastructure, but the climate outcome depends on the fuel and on whether captured CO2 is permanently stored; natural gas would not deliver the same carbon-negative claim as biogas. That distinction matters as the company broadens beyond its initial biogas customers and starts international deliveries, which it says are planned later in 2026. Handelsblatt · EU-Startups
Reverion emerged from Stephan Herrmann's research at the Technical University of Munich and was founded as a TUM spinout in 2022. Its 2024 Series A announcement reported $62m of equity and non-dilutive funding and more than $100m in customer pre-orders at the time. The new financing moves the constraint from early demand validation toward factory execution, site delivery and service capacity. Reverion Series A
Explore this theme
The Series B Funding Gap in European Tech — Niklas Oettle, Danijel Višević, Craig Douglas and World Fund, hosted on EUVC · 5 January 2026. The report explains why European climate hardware often struggles to finance the move from prototypes into industrial production, the exact transition Reverion is funding here.
