October 17, 2024

RIFT scores new investment of €11 million

Big things are happening in our portfolio! 🌍 We’re excited to announce that RIFT has secured a strong upround with €11 million Series A investment to decarbonize industrial heat! 🔥

RIFT’s Iron Fuel Technology offers a circular solution for energy-intensive industries like food & beverage, ceramics, and chemicals, reducing reliance on fossil fuels without major infrastructure changes. This breakthrough is essential as industries push toward net-zero emissions. ⚙️💡

The investment was led by Pension investor PGGM (on behalf of the Dutch
healthcare pension fund, PFZW), Invest-NL, and Oost NL have joined as new investors. Existing
shareholders Rubio Impact Ventures, the Energy Transition Fund Rotterdam, and Brabant
Development Agency (BOM)) are also participating in the investment round. Beyond capital, the group brings the experience and expertise RIFT needs to scale its technology and move towards commercial deployment. 🌱

Having supported RIFT from the early stages, we’re proud to see them take this crucial step.
Congrats to Mark Verhagen, Lex Scheepers, Vincent Seijger, and the entire team at RIFT! We’re excited to continue this journey with you towards a future where industrial heat is decarbonized—one gigaton at a time by 2050. 🚀💪