SWISS joins as investor in solar fuels start-up Synhelion

Swiss solar fuels start-up Synhelion SA on Thursday said it has raised CHF 22 million (USD 23.7m/EUR 22.3m) in a funding round involving existing investors, as well as new strategic investors, among which Swiss International Air Lines (SWISS), part of the Lufthansa Group.

The company expects the investment to help it to continue to scale the business and accelerate the commercialisation of its technology for producing synthetic liquid fuels through the use of solar heat. The firm says its drop-in solar fuels are compatible with existing planes, cars, trucks and ships. In September, it started construction of DAWN, its industrial demonstration plant in Germany.

The company said the new investment will allow it to build DAWN and undertake the technical design and construction planning of its first commercial plant in Spain.

As previously announced, SWISS has committed to becoming the first airline to use solar kerosene provided by Synhelion.

“During the course of last year we intensified our strategic partnership with Synhelion and our investment will now actively enhance the scaling up of sustainable fuel production,” said SWISS chief executive Dieter Vranckx.

(CHF 1 = USD 1.079/EUR 1.014)

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