Reverion

Energy Tech · Fuel Cells · Climate Tech

Funding

Reverion raises $175M Series B to build fuel cell megafactory

The Bavarian startup's technology runs backward too, turning surplus wind and solar power into storable gas.

• Reverion closed a $175 million Series B led by European deeptech fund Kembara, with Allianz, KfW Capital, aurum Impact and Carbon Equity joining as new backers.
• The Munich-area, TU Munich-spinout startup builds container-sized solid oxide fuel cell power plants that convert gas into electricity electrochemically, without combustion.
• The plants are reversible: they hit a claimed 74.2% electrical efficiency generating power from gas, and can run backward to turn surplus grid electricity into storable hydrogen or methane.
• Seven units already run in regular customer operation, and Reverion says its project pipeline represents more than $2 billion in potential revenue.
• The new German factory will add 250 megawatts of annual production capacity, roughly a tenfold increase, and could create up to 800 jobs while headcount grows from about 200 to 1,000.
• The round follows a $62 million Series A in September 2024 and marks Reverion's largest raise to date as it shifts from deeptech R&D to industrial manufacturing.
• As data centers strain power grids, dispatchable, storage-capable generation that can absorb renewable oversupply and later discharge it is becoming a distinct and increasingly valuable asset class.