Blue World Technologies announced that the Bill Gates–founded Breakthrough Energy Ventures (BEV) is entering as an investor in Blue World Technologies alongside Vaekstfonden (The Sovereign Investment Fund of Denmark), DEUTZ AG, and existing investors who invested back in December 2021 to complete the company’s €37 million ($37 million) series B round.
The series B funds will be used for scaling fuel cell production as well as investing in the development of methanol-driven fuel cell applications for the maritime sector. In late 2021, the company insourced all the production of the core fuel cell components and is currently in pre-series production. Later this year, Blue World Technologies will launch series production and with further scaling, the company expects to reach a production capacity of 500 megawatts (MW) within a couple of years.
“Maritime shipping is a critical component of our global economy, but it contributes 1 billion metric tons of carbon emiss
