Backed by €113.8 million, Dutch startup RIFT to deliver 340 GWh of industrial heat annually and avoid over 1 million tonnes of CO₂,
The European Union's commitment to industrial decarbonisation has been underscored by significant funding rounds for CleanTech companies, signaling a strong push towards sustainable energy solutions. Dutch startup RIFT has secured a substantial €113.8 million in combined financing, including a €30.7 million EU Innovation Fund grant, to scale its Iron Fuel Technology. This investment is crucial for moving from pilot projects to commercial deployment and building its first production facility, aiming to deliver substantial industrial heat annually and significantly reduce CO₂ emissions. RIFT's Iron Fuel Technology utilizes a circular system to provide high-temperature heat for energy-intensive industries like food processing, chemicals, and building materials, which have historically relied heavily on fossil fuels. The company's CEO, Mark Verhagen, stated that the technology has been proven reliable in industrial settings and this funding marks a concrete step towards decarbonising industrial heat at scale. The financing includes an €83.1 million Series B round led by PGGM, with participation from Invest-NL and other national and regional investment bodies. This substantial investment in RIFT is part of a broader trend across Europe, with other CleanTech firms also attracting considerable capital for industrial decarbonisation initiatives. For instance, Spark Cleantech in France raised €30 million for its plasma-based technology, and Swiss energy platform enshift secured €18.5 million for integrated energy transition solutions. These developments collectively represent over €608 million in disclosed funding directed towards these critical sectors in 2025–2026, highlighting a robust European ecosystem dedicated to achieving climate goals and fostering digital transformation within traditional industries.
Curated and translated by Europe Digital for our multilingual European audience.
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