$175 Million for Reverion: Bavarian Energy Tech Builds a Megafactory for the World’s Most Efficient Power Plant

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While data centers are scrambling for electricity, a startup from Eresing in Upper Bavaria is getting the money to deliver it. Reverion has closed a $175 million Series B (about 150 million euros), the largest funding round in its history, the company has just announced. The round is led by the deeptech and climate fund Kembara, with Allianz, KfW Capital (via a vehicle managed by UVC), aurum Impact and Carbon Equity joining as new investors. Existing backers Extantia, Energy Impact Partners, alfa8, UVC Partners, EIC Fund and Possible Ventures are participating too. Most of the money will go into a megafactory in Germany meant to scale production tenfold.

A Power Plant That Runs in Reverse

Reverion builds container-based power plants using solid oxide fuel cells (SOFC). The systems convert gas into electricity electrochemically, without combustion, and capture the CO₂ contained in the fuel in pure form, ready for reuse or permanent storage. Run on biogas, the plant’s carbon balance is negative. And it works in both directions: in electrolysis mode, it turns surplus wind and solar power into storable gases. Operators can thus respond to price signals in both the electricity and gas markets.

The figure Reverion leads with: 74.2 percent electrical efficiency, measured in live customer operation with the first pre-series units. According to the company, that is a world record for thermal power plants and nearly double that of conventional generators.

“Solar and wind give us clean energy, but only when the weather cooperates. What the world needs is clean power on tap,” says Stephan Herrmann, CEO and co-founder of Reverion. “We are building the dispatchable, carbon-negative engine that allows grids and heavy industry to run 100 percent clean, 24 hours a day, 365 days a year.” The financing, he adds, allows the company to scale “into the megawatt class,” which “opens up entirely new markets.”

From Biogas Farms to A.I. Data Centers

Demand now comes less from agriculture, where Reverion started with biogas plants, and increasingly from the technology sector. Energy-hungry data centers are hitting the limits of the public grid: connections are delayed by years, local opposition to new sites is growing, and as we recently reported, the crunch in the United States is already fueling a comeback of gas power plants.

That is exactly where Reverion comes in: the containers generate power right where it is consumed, fed by biogas or natural gas through existing gas infrastructure. Operators get round-the-clock electricity that is independent of grid expansion and of price swings in the power market. With biogas, the data center even becomes a carbon sink.

“We are seeing explosive international demand for our systems,” says Felix Fischer, COO and co-founder. “With seven commercial plants operating in the field and output per unit upgraded to 500 kW, this capital ensures we can rapidly clear our backlog and steer the company toward long-term profitability.”

250 Megawatts and 800 Jobs

The key figures of the expansion:

• Megafactory: A new production site in Germany with 250 megawatts of annual manufacturing capacity, ten times the current level. The exact location has not been disclosed.
• Jobs: At the Eresing headquarters, the team has recently grown from 100 to more than 200 employees; up to 800 positions are to be added at the new site.
• Pipeline: According to Reverion, the project pipeline has revenue potential of more than $2 billion, with the first international projects scheduled for delivery later this year.
• Investor: Kembara is a 1 billion euro scale-up fund powered by the VC platform Mundi Ventures.

“Solid oxide fuel cells are the most efficient way to convert gas into electricity, and Reverion sets the global benchmark in this field,” says Robert Trezona, climate lead at Kembara. “Hyperscalers need massive, reliable power, but they cannot compromise on their climate commitments.”

Bloom Energy as the Big Rival

Founded in 2022 as a spin-off from the Technical University of Munich, Reverion closed a $62 million Series A led by Energy Impact Partners only two years ago. With the new round, the company ranks among the best-funded energy tech startups in Europe.

The market is far from empty, though. U.S. company Bloom Energy has been supplying solid oxide fuel cells to data centers for years and recently landed large orders from Oracle and AEP, among others, although without reversibility and at a significantly lower efficiency. In Europe, Ceres Power in Britain and Sunfire in Dresden work on similar technology, with Sunfire focused on electrolysis. Reverion’s bet is that the combination of record efficiency, carbon capture and reversibility is enough to take on the established incumbent from California. The megafactory is proof that its investors believe it.