Yara Growth Ventures invests in Dynelectro

Yara announced on Friday that its venture capital arm, Yara Growth Ventures, has invested in Denmark’s Dynelectro, which develops technologies to unlock the potential of solid oxide electrolysis (SOE).

The Norwegian fertilizer producer said that while SOE yields the highest possible efficiencies to produce renewable hydrogen and e-fuels, the technology has been suffering from system lifetime issues.

Yara explained that Dynelectro’s approach dramatically increases the longevity of SOE systems from two to 10 years, while also allowing for the integration of SOE with intermittent renewable electricity, which is a key requirement for large-scale adoption.

Dynelectro previously raised a seed round in May 2023, which was led by The Export and Investment Fund of Denmark, with contributions from Vsquared Ventures and other local venture investors.

Yara – which said its investment will advance its goal of decarbonizing fertilizer production – indicated that the startup will use the funding for demonstration projects and further technology development.