Reverion - Series B

Terms

Announced

28 Sept 2026

Instrument

Equity

Amount

US$175mReported as US$175m (EUR 153m)

Source

reverion.com

Parties

Project developer

Reverion

Recipient type

Technology company

Country

Germany

Capital providers

Capital providers and the amount counted for each

Party	Role	Amount	Basis
Kembara	Lead investor	US$15.9m	Estimated: an even share, 1 of 11
Allianz	Investor	US$15.9m	Estimated: an even share, 1 of 11
KfW Capital	Investor	US$15.9m	Estimated: an even share, 1 of 11
Aurum Impact	Investor	US$15.9m	Estimated: an even share, 1 of 11
Carbon Equity	Investor	US$15.9m	Estimated: an even share, 1 of 11
Extantia Capital	Investor	US$15.9m	Estimated: an even share, 1 of 11
Energy Impact Partners	Investor	US$15.9m	Estimated: an even share, 1 of 11
alfa8	Investor	US$15.9m	Estimated: an even share, 1 of 11
UVC Partners	Investor	US$15.9m	Estimated: an even share, 1 of 11
EIC Fund	Investor	US$15.9m	Estimated: an even share, 1 of 11
Possible Ventures	Investor	US$15.9m	Estimated: an even share, 1 of 11

Carbon

Pathway

BECCS

Backed by offtakes from

• Frontier (coalition)
• Google

· signed before this financing

What happened

Reverion (Munich) closed a Series B of about EUR 153m (US$175m), led by Kembara, a EUR 1bn European growth fund for deeptech and climate technology. New investors were Allianz, KfW Capital (through an SPV managed by UVC Partners), Aurum Impact and Carbon Equity; existing investors Extantia Capital, Energy Impact Partners, alfa8, UVC Partners, EIC Fund and Possible Ventures also took part. Closing wording (Reverion release, 28 Sep 2026): Reverion "has closed a Series B financing round of approximately 153 million euros ($175 million)". Proceeds go mainly to a new 250 MW-a-year production site in Germany and a roughly tenfold increase in output of its reversible fuel-cell power plants, which can run carbon negative on biogas by capturing the biogenic CO2. No grant, debt or non-dilutive element is mentioned, so the whole figure is recorded as equity; no per-investor amounts are disclosed, so the named investors share it evenly.

Kumo note

A US$175m Series B for a maker of reversible fuel-cell power plants that run on biogas and can capture the biogenic CO2, led by a European growth fund with the venture arm of a German state development bank, an insurer, an EU fund and several existing venture backers. Most of the money goes into a new German factory rather than into carbon removal directly.

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