RIFT raises €113.8 million in Series B funding and EU grant to scale industrial heat decarbonization technology
Type: Financing · Technology: Industrial · Country: Netherlands · Value: $132M · Announced: 2026-03-05
Netherlands-based cleantech startup RIFT raised €113.8 million (USD$132 million) in combined funding through a Series B round and a European Union grant to scale its technology to decarbonize industrial heat.
Analysis
Netherlands-based RIFT secured $132 million USD in combined Series B funding and an EU grant, drawing significant backing from local heavyweights to scale its industrial heat decarbonization technology. Dutch pension fund PGGM, known for its long-term sustainable infrastructure investments, joined government-backed Invest-NL and the Municipality of Rotterdam's €100 million energy transition fund. This diverse investor consortium signals strong domestic confidence in RIFT's solution for hard-to-abate industrial emissions. The financing pushes the cleantech startup into its construction phase, accelerating a critical climate solution.
Key points
- $132 million USD in combined Series B and EU grant funding.
- Dutch pension fund PGGM, a global infrastructure investor, participated.
- Invest-NL and Energietransitiefonds Rotterdam, a €100 million municipal fund, among investors.
- RIFT's industrial heat decarbonization technology is now entering the construction stage.
Counterparties
- BOM (Investor)
- Invest-NL (Investor)
- Rubio Impact Ventures (Investor)
- PGGM (Investor)
- Oost NL (Investor)
- Energietransitiefonds Rotterdam (Investor)
- RIFT (Developer)
- EU Innovation Fund (Lender)