Eindhoven’s RIFT raised €11M in a Series A round led by Invest-NL, PGGM, and Oost NL to support their iron fuel technology for sustainable industrial heat.
Amount Raised
€11 Million
Round Type
Series A
EindhovenManufacturingEnergyOil And GasRenewable EnergyInvestors
Description
RIFT has secured €11M in a Series A funding round to advance its iron fuel technology aimed at reducing CO2 emissions in industrial heat production. The capital will be utilized for 2 GWh of durability tests at their pilot facilities and to finalize the first commercial contracts.
Quick answer
RIFT raised €11 Million in a Series A round, dated October 17, 2024. Investors: Rubio Impact Ventures, Brabant Development Agency (Bom), Energy Transition Fund Rotterdam (Etfr), Invest Nl, Pggm and Oost NL. RIFT is based in Eindhoven, North Brabant, Netherlands.
- How much did RIFT raise?
- RIFT raised €11 Million in a Series A round on October 17, 2024.
- Who invested in RIFT?
- Rubio Impact Ventures, Brabant Development Agency (Bom), Energy Transition Fund Rotterdam (Etfr), Invest Nl, Pggm and Oost NL are named as investors in this round.
- What does RIFT do?
- RIFT (Renewable Iron Fuel Technology) is a company founded in 2021 that specializes in sustainable heating solutions for various industries, including food and beverage, pulp and paper, ceramics, and special chemicals.
- Where is RIFT based and how big is it?
- RIFT is based in Eindhoven, North Brabant, Netherlands. Fundz records about 27 employees.
- Who are the decision-makers at RIFT?
- Fundz holds 5 contacts at RIFT, including the CTO, Co-founder. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Energy and Oil And Gas around the same time
Companies in the same sectors as RIFT that raised within 45 days of this round, from Fundz verified event records.
- Hydrogen Mem-Tech raised an undisclosed amount (Equity Crowdfunding) on November 15, 2024.
- Ampd Energy raised $27M (Series B) on November 5, 2024.
- Universal Fuel Technologies raised $3M (Seed) on October 22, 2024.
- Hgen raised $5M (Seed) on September 17, 2024.
- Oxylus Energy raised $4.5M (Seed) on September 3, 2024.
- Modern Hydrogen raised $25M on November 27, 2024.
Who to call at RIFT, and when
A new round usually means RIFT is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day RIFT raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at RIFT, from your own LinkedIn network
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