Reverion raises €154.2M to scale carbon-negative plants

German energy startup Reverion has raised €154.2 million ($175 million) in a Series B round announced Sept. 28, with the company saying the financing will help it scale production of its dispatchable, carbon-negative power plants.

Tech.eu later reported that Reverion raised €154 million and plans to hire 800 people in a new factory, placing the deal among Europe’s notable tech financings for the week. That weekly recap said Europe recorded more than 70 tech funding deals worth over $3.9 billion, underscoring a busy funding backdrop for the region.

Reverion is based in Eresing near Munich and builds reversible fuel-cell power plants for decentralized energy supply, according to startup coverage. The systems generate electricity from gas, can store energy through reversibility, and can run carbon-negative when biogas is used, the company and related coverage said. Renewable Energy Magazine also described the hardware as reversible solid-oxide electrolysis/fuel-cell equipment that can both produce hydrogen and use it to generate electricity.

What did Reverion raise, and when?

Reverion said it completed a €154.2 million Series B on Sept. 28, and Görg later said it advised the company on a US$175 million Series B funding round on Sept. 30. The round was led by Kembara, which multiple sources describe as Mundi Ventures’ European deep-tech and climate growth fund.

The company’s investor list includes a mix of new and returning backers. New participants named in coverage include Allianz, KfW Capital, Aurum Impact and Carbon Equity, while existing investors reported as participating include Extantia, Energy Impact Partners, UVC Partners, the European Innovation Council Fund, alfa8 and Possible Ventures.

Handelsblatt reported that the new and existing investors together were providing around €150 million, while other coverage described the round at €154.2 million. The difference in reported figures is not explained in the available coverage.

What will Reverion use the money for?

Reverion says the capital will support industrial-scale production and a new German manufacturing site with annual capacity of 250 megawatts. Görg said the planned production site is expected to create up to 800 jobs, and Tech.eu reported the company plans to hire 800 people in the new factory.

Renewable Energy Magazine said the new site is intended to increase manufacturing capacity tenfold, although the reports do not independently establish the baseline capacity or a construction timetable. Munich Startup said the exact location of the new factory and the date it will reach full capacity have not been disclosed.

The financing is also meant to support expansion into additional markets, according to Görg. The law firm said demand for Reverion’s technology is growing particularly from energy-intensive industries and data centers.

How does Reverion's technology work?

Reverion’s systems are designed to run both ways. In one direction, they convert renewable gas into electricity without combustion and capture pure biogenic CO2 for reuse or permanent storage, according to Renewable Energy Magazine. In the reverse mode, the same system can convert surplus electricity into storable gases.

The company says that approach supports dispatchable power, electricity that can be produced on demand, while also offering carbon-negative operation when biogas is used. Renewable Energy Magazine reported that Reverion’s first pre-series units were operating at 74.2% electrical efficiency in live customer operation, and that seven power plants are already in regular operation at customer sites.

Reverion’s commercial pipeline also appears to be growing. Renewable Energy Magazine attributed to the company a commercial project pipeline exceeding $2 billion in revenue potential, while also reporting that the headquarters team in Eresing has grown from 100 to more than 200 employees and that first international projects were scheduled for delivery later in 2026.

CEO and co-founder Stephan Herrmann said the Series B lays the foundation for industrial mass production and will allow Reverion to build an additional production site and scale the product into the megawatt class. Kembara climate lead Robert Trezona said the growth market for Reverion lies in powering data centers.