Aalborg, Denmark-based Blue World Technologies, a developer and manufacturer of methanol fuel cells as an alternative to non-renewable fuels, announced on Tuesday that it has raised €37M in a Series B round of funding.
In December 2021, the company had raised €20M in funding from the Danish sovereign wealth fund, Vækstfonden, and the German engine manufacturer DEUTZ as main investors.
Investors supporting this round
The current round of funding came from Bill Gates-founded Breakthrough Energy Ventures (BEV), Vaekstfonden (The Sovereign Investment Fund of Denmark), DEUTZ AG, and existing investors from the December 2021 round.
With the investment from Breakthrough Energy Ventures, which was partially funded by Breakthrough Energy Ventures and Breakthrough Energy Ventures-Europe (BEV-E), Allegra Kowalewski-Ferreira will join the board of directors of Blue World Technologies.