Yara Growth Ventures has made an investment in Dynelectro, a company at the forefront of developing technologies to enhance the efficiency of solid oxide electrolysis (SOE).
The partnership aims to address the persistent challenges in SOE systems, particularly their limited lifetime, and accelerate the adoption of low-cost renewable hydrogen – a key driver for decarbonizing industries.
Yara’s investment in Dynelectro aligns with its ambitious agenda to decarbonize fertilizer production and contribute to the burgeoning hydrogen economy. The fertilizer industry, a significant global player, has been under increasing pressure to transition towards sustainable practices. By investing in Dynelectro’s innovative solutions, Yara aims to overcome the hurdles hindering the widespread adoption of SOE technology, thus making renewable hydrogen production economically viable.
Dynelectro’s pioneering approach tackles the critical issue of SOE system lifetime, extending it from a typical 2 to an impressive 10 years. This breakthrough not only enhances the reliability of SOE systems but also allows seamless integration with intermittent renewable electricity sources. Overcoming these challenges is pivotal for the large-scale adoption of SOE, positioning it as a frontrunner in the quest for efficient and cost-effective renewable hydrogen production.
The funding from Yara Growth Ventures follows Dynelectro’s successful seed investment round in May 2023, led by The Export and Investment Fund of Denmark. The newly acquired funds will be instrumental in executing demonstration projects and advancing technology development.
