Overview
Rift, an Eindhoven-based developer of an iron fuel technology platform, has raised €113.8 million in total financing, including an €83.1 million Series B led by PGGM and a €30.7 million grant from the EU Innovation Fund. The funding will support the development of Rift's first commercial production facility and large-scale industrial heat projects, providing a scalable solution for energy-intensive sectors while avoiding over one million tonnes of CO2 emissions over its lifetime.
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Investors: PGGM
Rift, an Eindhoven-based developer of an iron fuel technology platform, has raised €113.8 million in total financing, including an €83.1 million Series B led by PGGM and a €30.7 million grant from the EU Innovation Fund. The funding will support the development of Rift's first commercial production facility and large-scale industrial heat projects, providing a scalable solution for energy-intensive sectors while avoiding over one million tonnes of CO2 emissions over its lifetime.