CEMEX and CEMEX Ventures, its corporate venture capital and open innovation unit, were among investors that participated in Synhelion’s latest financing round. The clean energy company raised CHF 22 million ($23.6 million).
The proceeds of the investment round will accelerate Synhelion’s growth and support the scaling and commercialization of its unique and validated technology.
In addition to the important funding, the invaluable and extensive know-how and technology portfolio of the investors creates significant synergies that enable Synhelion to accelerate the industrialization and global roll-out of its solar fuel technology.
Synhelion’ solar fuels are a crucial solution in combatting climate change as it significantly reduces net CO2 emissions by directly replacing fossil fuels, according to the company. Its drop-in fuels can be blended into the existing fuel distribution network and are fully compatible with existing vehicles and machinery.