Scope read as European-headquartered climate and energy-transition companies, Seed to Series B, plus listings and funds that invest in them. Capital this week split between one very large Series B and a cluster of sub-€12M early rounds, with Series A cheques coming from climate specialists and public lenders.
01Reverion · Sep 29Reverion closes €154.2M Series B to build 250 MW fuel-cell factory
Munich-area SOFC power-plant maker Reverion announced the close of a €154.2M ($175M) Series B led by Kembara, Mundi Ventures' €1B DeepTech and climate fund. New investors are Allianz, KfW Capital, Aurum Impact and Carbon Equity; existing backers Extantia, Energy Impact Partners, UVC Partners, EIC Fund, alfa8 and Possible Ventures also joined. Valuation and terms were not disclosed in the coverage reviewed.
Stated use of proceeds: a new German production site scaling capacity tenfold to 250 MW a year, against a pipeline the company says has revenue potential above $2B (company claim). Its previous Series A, in September 2024, was €56M including non-dilutive funding, per EU-Startups.
For your raise: Reverion's Series A-to-B path shows climate funds will lead large rounds when a factory plan, existing customers and a data-centre demand story are in place.
02Reclinker · Oct 5Reclinker raises £10M Series A from Clean Growth Fund and AP Ventures
Cardiff-based Reclinker, which recycles demolition cement paste into clinker inside electric arc steel furnaces, raised a £10M Series A co-led by Clean Growth Fund and AP Ventures. The Development Bank of Wales and Kibo Invest joined, alongside existing investors Zero Carbon Capital and Cambridge Enterprise. The CEO described the round as oversubscribed; valuation was not disclosed.
Funds move the company from trials to commercial production in Cardiff, then to other arc-furnace sites in Europe and the US. The 50% emissions cut and cost parity are company claims that TNW says it did not independently verify.
For your raise: a pilot with first commercial sales, a university-origin technology and a public development bank alongside two specialists was enough for an oversubscribed £10M A.
03Bioenergy Business, Tech.eu · Sep 29–30MethaPlanet raises €6M led by pension fund ABP; Cotierra raises $3M
Dutch biogas startup MethaPlanet raised €6M in a round led by pension fund ABP with EIT InnoEnergy and others participating (Bioenergy Business, Sep 30). The round stage was not stated, and the article notes InnoEnergy backed a €6M round in June 2024. Its triple-output claim is company-reported.
Zurich-based Cotierra raised $3M for decentralised biochar reactors and software, led by PINC (Paulig's venture arm) and Carbon Removal Partners, with Zürcher Kantonalbank, Carbon Drawdown Initiative and others; total raised since founding is $4.75M (Tech.eu, Sep 29).
For your raise: strategic and carbon-buyer-aligned leads (PINC, an ABP pension mandate) are showing up at seed-stage cheques under €6M.
04Dealroom · Oct 1ista acquires Munich home-electrification startup Homenergy for undisclosed sum
Energy service provider ista SE acquired Homenergy, a 2022-founded Munich company selling heat pumps, PV, battery storage, EV wall boxes and air conditioning with in-house installation. The price was undisclosed; Apricum advised Homenergy as exclusive sell-side adviser. Dealroom's report does not state whether closing has occurred, so treat status as announced.
Dealroom's stated read is that incumbents are buying into residential electrification; no rationale from ista itself was reviewed.
For your raise: a four-year-old installer-led platform found a strategic buyer, a data point for exit routes if growth-stage capital tightens.
053North / Steady Energy · Sep 30Steady Energy lists on Nasdaq First North Finland via 3North combination
3North Partners, an investment shell, completed its share-exchange acquisition of Finnish heat-only SMR developer Steady Energy and the listing; trading in the series A shares (code STEADY) was expected on or about Oct 2, and this edition did not confirm first-day trading. The retail offering at €10.00 per share raised €5M gross and was oversubscribed. Irrevocable commitments of about €69.8M came from Elo, Fortum, Ilmarinen, Orlen VC, Tesi, Varma and others.
The EIB also signed a convertible loan of up to €40M at 0% interest, its first financing for an SMR project. The sellers receive 25,737,145 new shares, plus earn-out shares if the VWAP exceeds €15.00 and €25.00. This is a reverse-style listing of a company founded in 2023, so it sits at the edge of the Seed to Series B scope.
For your raise: a pre-revenue deep-tech company reached public markets with pension and strategic anchors, an alternative route that exists at Series B-plus scale.
06ImpactAlpha · Sep 28World Fund lines up investors for second fund, first close possible by year-end
Berlin-based World Fund, which invests seed through Series B in European climate and deep tech, has lined up initial investors for Fund II, which should at least match Fund I's €300M, partner Craig Douglas told ImpactAlpha. A first close could come by year-end; this is not a closed fund. Fund I closed in 2024 at €300M.
Douglas said the IQM listing, in which World Fund holds a stake still under lockup, has made conversations with LPs easier. World Fund led IQM's €128M Series A in 2022.
For your raise: a seed-through-B specialist is preparing new capital for 2027 deployment, so open conversations now while it is still building its pipeline.
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