Reverion raises €8.5m for biogas plant acceleration
Investors in the round include UVC Partners, Green Generation Fund, Extantia Capital, Doral Energy-Tech Ventures and biomethane trader Landwärme.
This capital will be utilised to expand the production of 100 kW and 500 kW biogas power plants, with the company saying that both plant sizes have recently received significant demand from customers.
In addition, Reverion has received €12m of research capital, which will be used to develop the plants.
The company said that its new technology can enable existing biogas operators to increase their revenue by up to 400% using the same amount of biomass.
Its upcoming Series A fundraise aims to scale production to meet anticipated market demand for gigawatts of renewable capacity, it added.
Reverion states its mission is to replace as many of the world's conventional power plants as possible, with its first target being existing biogas suppliers.
According to the firm, today, biogas plants are operated with low-efficiency gas engines (maximum 40%), are inflexible, offer limited storage options and emit millions of tons of CO2 annually.
In contrast, Reverion’s modular power plants can double the efficiency of electricity generation from 40 to 80% compared to conventional technology, the company said.
Since the small power plants can also run “backward” (reversible), a renewable natural gas substitute or green hydrogen can be produced and stored from a temporary surplus in the wind and solar power to make the grid more flexible. Another advantage is that Reverion’s modern power plants can be operated CO2-negatively when biogas is used.
The patented carbon-negative fuel cell technology has already attracted numerous customers.
“We have secured over €60 million in pre-orders, which we plan to fulfill,” explained Felix Fischer, co-founder, and COO. “Our objective is to break even by entering series production and rapidly scaling the number of units delivered,” he said.