Breakthrough Energy Ventures Backs Blue World Technologies By Joining Its €37 Million Series-B
08/30/22, 12:16 PM
Location
Money raised
€37 million
Industry
renewable energy
Round Type
series b
Today Blue World Technologies announced that the Bill Gates-founded Breakthrough Energy Ventures (BEV) enters as an investor in Blue World Technologies alongside Vaekstfonden (The Sovereign Investment Fund of Denmark), DEUTZ AG, and existing investors who invested back in December 2021 to complete the company's €37 million series B round. In connection with the investment from Breakthrough Energy Ventures – partly funded by Breakthrough Energy Ventures and Breakthrough Energy Ventures-Europe (BEV-E) – Blue World Technologies welcomes Allegra Kowalewski-Ferreira, a highly skilled and experienced investment professional to their Board of Directors.
Company Info
Location
langerak
aalborg, north denmark region, denmark
Additional Info
Blue World Technologies is an ambitious and visionary developer and manufacturer of HT-PEM fuel cell components and systems for stationary applications, on- and off-road applications, and the maritime industry. The fuel cells act as a green alternative to combustion engines and diesel generators. As a part of the Power-to-X eco-system the methanol fuel cell technology contributes to solving parts of the green transition that cannot be solved by direct electrification and battery technology alone.
Blue World Technologies’ fuel cells run primarily on methanol – a renewable liquid fuel that simply and cost-effectively can be stored for years and transported around the world while reusing existing infrastructure.
Blue World Technologies is founded on extensive experience from the fuel cell industry and aims towards commercialising the technology through large-scale production. The company is focused on the High-Temperature PEM technology combined with methanol-reforming. The combination ensures a simple system design with high conversion efficiency and significant benefits including CO2 reduction, fuel cost savings, and reduced emissions.
Read more about Blue World Technologies on our website www.blue.world.