What is Rift?
Rift is pioneering a novel, circular fuel approach to decarbonize industrial heat and energy systems. The company develops and promotes its Iron Fuel Technology, a system that combusts fine iron powder to generate high-temperature heat without direct carbon emissions. The resulting iron oxide is then regenerated into reusable iron fuel using hydrogen, establishing a closed-loop energy cycle. Rift's solutions are designed to replace fossil fuels in hard-to-electrify industrial applications, offering a scalable, carbon-free alternative that integrates with existing infrastructure and ensures long-term fuel supply arrangements. Their work spans technology development, pilot projects, engineered boilers, and energy systems, alongside strategic collaborations to expedite the widespread adoption of clean industrial heat.
How much funding has Rift raised?
Rift has raised a total of $143.4M across 3 funding rounds:
Other Financing Round
$11.6M
Grant
$35.5M
Series B
$96.2M
Other Financing Round (2024): $11.6M with participation from Invest-NL, PGGM, and Oost
Grant (2026): $35.5M, investors not publicly disclosed
Series B (2026): $96.2M supported by PGGM, Invest-NL, Oost, and Rubio Impact Ventures
Key Investors in Rift
Invest-NL
Invest-NL is the national financing and development institution dedicated to fostering a sustainable and innovative Netherlands, focusing on societal transitions in sectors like Deep Tech and Energy. They provide capital and expertise to accelerate innovative solutions where the market hesitates.
PGGM
PGGM is a cooperative pension administration organization focused on providing sustainable pensions and managing assets, with a commitment to a livable world and supporting societal transitions.
Rubio Impact Ventures
Rubio Impact Ventures is an impact venture fund investing in companies that combine profit and purpose, providing early-stage growth capital to founders reshaping industries with a focus on net zero transitions and overall wellbeing.
What's next for Rift?
With the recent influx of major strategic investment and substantial overall funding, Rift is well-positioned for accelerated growth and market penetration. The company's focus on replacing fossil fuels in challenging industrial sectors, coupled with its scalable, circular energy cycle, aligns with global decarbonization efforts. This financing is anticipated to fuel further research and development, expand operational capacity, and solidify strategic partnerships. Rift's trajectory suggests a move towards scaling its technology for broader industrial application, aiming to become a key player in the transition to sustainable industrial energy.
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