Reverion raises $62 million to enter serial production of next-generation renewable power plants
Munich, Germany, September 13, 2024 – Reverion, a company building reversible, carbon-negative power plants, today announced it had raised $62 million in Series A funding, including non-dilutive funding. The oversubscribed round was led by Energy Impact Partners (EIP) with participation from Honda and the European Innovation Council Fund (EIC Fund). Existing investors UVC Partners, Extantia Capital, Green Generation Fund, Doral Energy-Tech Ventures, and Possible Ventures also joined the round. This funding will enable Reverion to begin serial production of its power plants and meet over $100 million in customer pre-orders collected to date.
Reverion’s patented technology is paving the way to 100 percent renewable energy by using the full potential of biogas. Their reversible power plants overcome the limitations of conventional technologies for power generation from biogas, significantly increasing revenue for operators from the same biomass. Unlike conventional gas engines, which are inefficient and emit millions of tonnes of CO2 annually worldwide, Reverion’s fuel cell-based plants achieve up to 80 percent efficiency in power generation, doubling the electricity output of gas engines. In addition, these plants can also operate reversibly to produce and store renewable natural gas or green hydrogen in times of electricity surplus, enhancing grid flexibility. Finally, Reverion’s plants capture the CO2 created during power generation, thus making carbon-negative power generation from biogas possible, cutting emissions and transforming the biogas industry for a sustainable energy future.
“What Reverion has accomplished is nothing short of exceptional and exemplifies the market traction we look for in emerging climate tech companies,” said Ashwin Shashindranath, Partner at Energy Impact Partners. “Their innovative approach and rapid progress highlight their potential to become leaders in renewable energy not only in Europe but across the globe.”
Reverion has already secured over $100 million in pre-orders, reflecting strong demand from customers, mainly farmers, and industrials. Farmers are particularly attracted to Reverion's technology for its ability to double the output of existing biogas plants while creating new revenue streams. For industrial customers, Reverion's units are optimized for deep integration into thermal and chemical processes, providing not only electricity but also heat and various gases for on-site use. This diverse customer base underscores the broad appeal and versatility of Reverion's carbon-negative power plants and positions the company to play a key role in the transition to sustainable energy. This funding round is critical for the company to deliver these containerized, plug-and-play power plants at scale.
"Farmers with biogas plants struggle with regulatory retrofit demands and the limitations of traditional technologies. This customer segment is exactly where Reverion is entering the market," said Dr. Stephan Herrmann, CEO and Managing Director at Reverion GmbH. “The demand for our units has been overwhelming in Germany, and we're not stopping there — we're preparing for a global push with strategies tailored to each region’s regulations. In this financing round, we've selected partners offering capital and crucial expertise in scaling hardware startups and advancing innovative energy technologies. We're excited to onboard top-tier investors from the US and Japan as we grow the company.”
UVC Partners has years of experience in scaling hardware assets and growing game-changers in specialized markets and was convinced of Reverion from the start: “The team is an excellent fit for our Climate Tech portfolio because its dual mode is an essential enabler for the transformation towards renewable energy in Germany, Europe, and the world,” elaborated Johannes von Borries, Managing Partner at UVC Partners.
“From our first touchpoint with Reverion, we were impressed by their order book and highly efficient reversible power plant. We're excited to support their journey to serial production, thereby contributing to economically viable green energy production for biogas plants and supporting European independence with green chemicals,” said Jana Petry, Investment Associate at UVC Partners.
About Reverion
Reverion GmbH builds reversible, carbon-negative power plants. As a spin-off from the Technical University of Munich, Reverion’s journey began in 2015 with a groundbreaking vision: paving the way to 100% renewable energy by using the full potential of biogas. Over the years, they successfully developed, validated, patented, and scaled their novel high-temperature fuel cell system. Their technology combines all the key core elements desperately needed for the successful implementation of the energy transition in a single plant: increased efficiency, CO2-negative operation and seasonal energy storage at a large scale. For more information, visit www.reverion.com.
About EIP
Energy Impact Partners LP (EIP) is a global technology investor custom-built for the energy transition. EIP brings together entrepreneurs and some of the world's most forward-looking energy and industrial companies to advance innovation and aims to reduce emissions and provide competitive returns for its investors. With over $4 billion in assets under management, EIP invests globally across venture, growth and credit – and has a team of over 90 professionals based in its offices in New York, San Francisco, Washington D.C., Atlanta, Palm Beach, London, Cologne, Oslo and Singapore. For more information on EIP, please visit www.energyimpactpartners.com.
About UVC Partners
UVC Partners is a leading venture capital firm that invests in European B2B tech startups and has offices in Munich and Berlin. With more than €600 million in assets under management, the VC typically invests between €1 to €10 million initially and up to €30 million per startup in the areas of DeepTech, ClimateTech, Mobility, and Software/AI. As an independent partner of UnternehmerTUM, Europe's leading startup hub, UVC Partners has unique access to proprietary deal flow, more than 1,000 corporates and SMEs, as well as to talents from the Technical University of Munich, which belongs to the best European technical universities. UVC Partners' investment portfolio includes Flix, Isar Aerospace, planqc, Proxima Fusion, Reverion, Tacto, TWAICE, DeepDrive, STABL, and many more. All portfolio companies and founders benefit from the team's extensive investment and exit experience, their ability to build sustainable category leaders, and the network of UnternehmerTUM enabling them to speed up market entry. Learn more at www.uvcpartners.com.
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