What is Rift?
Rift is a Dutch clean-energy technology enterprise dedicated to the decarbonization of industrial heat and energy systems. At the core of its operations is the innovative Iron Fuel Technology, a circular energy cycle that utilizes fine iron powder for high-temperature heat production without direct carbon emissions. The process involves the combustion of iron powder, followed by the regeneration of the resulting iron oxide back into reusable fuel using hydrogen. This closed-loop system is designed to integrate seamlessly with existing industrial infrastructure, providing a scalable and sustainable alternative to traditional fossil fuel boilers. By focusing on sectors that are notoriously difficult to electrify, Rift is positioning itself as a key enabler of the global net-zero transition, bridging the gap between current industrial requirements and future climate goals.
How much funding has Rift raised?
Rift has raised a total of $143.4M across 3 funding rounds:
Other Financing Round
$11.6M
Series B
$96.2M
Grant
$35.5M
Other Financing Round (2024): $11.6M with participation from Oost, Invest-NL, and PGGM
Series B (2026): $96.2M led by Oost, Rubio Impact Ventures, PGGM, and Invest-NL
Grant (2026): $35.5M, investors not publicly disclosed
Key Investors in Rift
Invest-NL
Invest-NL is the national financing and development institution of the Netherlands, dedicated to accelerating societal transitions in sectors such as energy and circular economy by mobilizing capital for innovative, high-impact solutions.
PGGM
PGGM is a cooperative pension administration organization that manages significant assets with a strong focus on sustainability and long-term value creation for its pension fund clients.
Rubio Impact Ventures
Rubio Impact Ventures is a leading impact-focused venture fund that provides early-stage growth capital to entrepreneurs who combine profit with purpose, specifically targeting net-zero transitions.
What's next for Rift?
With the recent influx of capital, Rift is poised to transition from pilot-scale projects to broader commercial implementation. The strategic roadmap focuses on enhancing the efficiency of its iron-oxide regeneration systems and expanding its collaborative network with industrial partners. As the company scales, it will likely prioritize the optimization of its fuel supply chain and the refinement of its engineered boiler systems to meet the rigorous demands of heavy industry. The focus remains on proving the long-term viability of its circular fuel model, ensuring that it can compete effectively with conventional energy sources while maintaining a carbon-neutral footprint. Future growth will be driven by the successful integration of its technology into existing manufacturing facilities, thereby establishing a new standard for clean industrial heat.
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