Reverion, a Germany-based developer of container-based, reversible solid oxide fuel cell power plants, has raised $175 million in a Series B funding round to expand production of its reversible fuel cell power plants.

Kembara, Mundi Ventures’ European scale-up fund, led the funding round. Allianz, KfW Capital, Aurum Impact, and Carbon Equity joined as new investors. Existing investors Extantia, Energy Impact Partners, UVC Partners, European Innovation Council Fund, alfa8, and Possible Ventures also participated.

Reverion’s solid oxide technology converts gas electrochemically into electricity without combustion and captures the CO₂ in the fuel stream for reuse or permanent storage. The same system runs in reverse: in electrolysis mode, it converts surplus electricity into storable gases.

According to the release, Reverion plans to invest the majority of the funding in a new production facility in Germany. The facility is expected to increase its annual manufacturing capacity tenfold to 250 MW and create up to 800 jobs.

The company said the expansion will help address a commercial project pipeline representing more than $2 billion in potential revenue.

Stephan Herrmann, CEO and co-founder of Reverion, says: “Solar and wind give us clean energy, but only when the weather cooperates. What the world needs is clean power on tap. By closing this Series B, we are laying the foundation for industrial mass production. We are building the dispatchable, carbon-negative engine that allows grids and heavy industry to run 100% clean, 24 hours a day, 365 days a year. The financing allows us to build an additional production site and to scale the product further, into the megawatt class. That opens up entirely new markets for Reverion.”

According to Mercom’s 1H 2026 Funding and M&A for Energy Storage report, VC funding for energy storage companies in 1H 2026 totaled $1.6 billion across 51 deals, representing a 6% YoY decline compared to the $1.7 billion raised across 36 deals in 1H 2025.

In August, Teragen Energy, a developer of modular solid-oxide fuel cell power systems for data centers, industrial sites, and utilities, raised $6 million in an oversubscribed pre-seed funding round. BEVC and Energy Capital Ventures co-led the round. AP Ventures, AIC Ventures, the Massachusetts Clean Energy Center, and UntroD Capital Asia also participated.