Synhelion raises funds for industrial solar fuel plant

Lugano/Kloten ZH – Synhelion has raised CHF 22 million in a financing round. In the process, Swiss International Air Lines joined Synhelion as an investor. The money will go toward an industrial plant to produce solar fuels.

Synhelion has raised a total of 22 million Swiss francs in a financing round from existing and new investors, the Lugano-based solar fuel pioneer informs in a statement. The funds will be used to build “the world’s first plant to produce sustainable fuels using solar heat,” it adds.

As recently as August, Synhelion provided evidence that solar synthesis gas can be produced on an industrial scale. The company, which was established in 2016 as a spin-off of the Swiss Federal Institute of Technology in Zurich, plans to start industrial production of solar fuels in Germany as early as next year. The commissioning of a first commercial production plant in Spain is planned for 2025.

In the course of the current financing round, Swiss International Air Lines(Swiss) has joined Synhelion as an investor. The airline has been working with Synhelion for several years and will be the first customer for the solar aviation fuel. “With this investment, Swiss is clearly committed to the issue of sustainability and is holistically committed to accelerating the market introduction of solar fuels,” according to a related statement from the airline. “We are pleased to make another significant contribution with our financial participation to help Synhelion scale and commercialize its innovative product,” Swiss CEO Dieter Vranckx is quoted as saying there. hs