Assembly Line

Germany's Kraftblock raises €20M Series B for sustainable thermal storage technology

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Kraftblock, Shell

German climate tech firm Kraftbock has raised a Series B funding round of €20 million in a round which includes Shell Ventures, Finindus, Moore Strategic Ventures, A&G Energy Transition Tech Fund, TechEnergy Ventures and Future Industry Ventures.

Kraftblock, founded in 2014 by chemist Dr. Martin Schichtel and economist Dr. Susanne König provides sustainable thermal storage technology to many industries - enabling the decarbonisation of processes in the energy sector and ‘any industries from food to chemicals, paper, ceramic and steel’.

This latest bout of funding will fuel the company’s ‘visibility around the globe’. “We specifically chose investors who have their roots in industries such as food, steel and energy and who will help us to consolidate our leading market position,” says CEO Schichtel.

Read more at Tech EU