Yara Growth Ventures invests in Dynelectro, which develops technology that unlocks the potential of solid oxide electrolysis (SOE). SOEs offer the highest possible efficiency for producing renewable hydrogen and electronic fuels, but have traditionally been plagued by system end-of-life issues. The investment is part of Yara's ambition to decarbonize fertilizer production and enable a hydrogen economy.
Dynelectro's approach dramatically extends the lifetime of SOE systems from typically 2 years to 10 years and also enables the integration of SOE with intermittent renewable power, a key requirement for large-scale deployments.
Yara Growth Ventures: Decarbonizing the fertilizer value chain is an essential part of ensuring a sustainable global food supply
– Electricity is the main driver of renewable hydrogen costs. Solid oxide electrolysis offers the best potential at low cost, but system lifetime issues make it niche. “We believe Dynelectro can overcome these challenges and pave the way for low-cost renewable hydrogen,” said Björn Heinz, investment director and member of the Yara Growth Ventures team.
– Decarbonizing the fertilizer value chain is an essential part of ensuring the world's food supply in a sustainable manner and is one of our key goals. Investments in companies like Dynelectro enable that strategy by supporting new technologies for the production of affordable, low-emission end products.We are excited to join forces with them, says Heinz.
Dynelectro: our first industrial investor and an important milestone
– The addition of Yara Growth Ventures is an important milestone. Because Yara Growth Ventures is our first industrial investor, thereby demonstrating market readiness and innovation drivers in clean and sustainable technologies, said Sune Lilbæk, CEO of Dynelectro. says.
The investment follows the company's seed project led by Denmark's national promotion bank and export credit agency, the Danish Export Investment Fund (EIFO), in May 2023, with investment from Vsquared Ventures, a leading European deep tech fund. This follows an investment round. and more local venture investors. The funds will be used for demonstration projects and further technology development.
contact address
Marius Weyerhaug Madsen
Communications Manager, Yara International ASA
E: marius.madsen@yara.com
Male: +47 977 23 199
Dr. Bjorn Heinz
Yara Growth Ventures Investment Director
bjoern.heinz@yara.com
Sune Lilbek
Dine Electro CEO
sune@dynelectro.dk
About Dynerectro
Dynelectro enables the transition to sustainable energy solutions. Its cutting-edge technology advances solid oxide electrolysis to unprecedented system performance and longevity, while allowing operators to seamlessly adjust production according to the availability of cost-effective renewable energy. The company commercializes its highly efficient 1+ MW dynamic electrolyzer units to provide clean hydrogen, syngas, e-fuels, and grid auxiliary services. Trusted by leading companies in the energy market, his Dynelectro is working to build a post-carbon future with reliable, affordable energy for everyone.
For more information, please visit www.dynelectro.dk.
About Yara Growth Ventures
Yara Growth Ventures is a venture investment team within Yara International ASA that invests in disruptive startups in the agri-food industry around the world to advance sustainability. For more information, please visit www.yaragrowthventures.com.
About Yara
Yara is advancing knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger and a planet respected, we pursue sustainable value growth strategies and promote nature-friendly crop nutrition and low-emission energy solutions.
Yara's goals are focused on the future growth of natural food, creating value for customers, shareholders and society at large, and providing a more sustainable food value chain.
To achieve our goals, we are taking the lead in developing digital farming tools for precision farming and working closely with partners across the food value chain to improve the efficiency and sustainability of food production. We have improved it. By focusing on low-emission ammonia production, we aim to enable a hydrogen economy and drive the green transition of shipping, fertilizer production and other energy-intensive industries.
Founded in 1905 to solve emerging famine in Europe, Yara has uniquely positioned itself as the industry's only global crop nutrition company. The company has approximately 17,500 employees, operates in 60 countries, and operates an integrated business model with a proven track record of high profitability. In 2022, Yara reported her revenue of US$24.1 billion.
