RIFT

What RIFT does

RIFT Development B.V., headquartered in Eindhoven, Netherlands, is a private deep-tech company (founded 2020, ~75 employees) commercializing Iron Fuel Technology — a circular energy carrier in which fine iron powder is combusted at up to 2,000°C to produce high-temperature industrial heat with zero direct CO₂ and ultra-low NOx emissions. The by-product iron oxide is regenerated back into iron fuel using low-carbon hydrogen at dedicated production plants located near hydrogen sources, completing a closed loop. RIFT's product stack comprises three integrated components: the Iron Fuel itself (a safe, transportable solid energy carrier sourced from the existing iron-powder market), the Iron Fuel Boiler (1–2 MW combustion units producing steam, hot water, or hot air and designed for plug-and-play integration with existing industrial infrastructure), and Iron Fuel Production facilities (regeneration plants). Operational pilots include a 1 MW boiler at a Helmond district heating site and a 200 kW production system at Cleantech Park Arnhem; the company is now advancing its first commercial-scale facility, Alpha One, at the Evonik site in Antwerp (120,000 tonnes/year, targeting 244 GWh/year of heat and operations by 2029), and has signed a reservation agreement for a second production site at Port of Rotterdam's Maasvlakte.

RIFT serves energy-intensive industrial enterprises — primarily food processing, chemicals, and building materials — that require continuous high-temperature heat and for which electrification and direct hydrogen combustion are uneconomic or impractical. Go-to-market is enterprise field sales: direct engagement with industrial customers to sign long-term, multi-year Iron Fuel Boiler supply and fuel contracts. The first commercial contract was signed with Kingspan Unidek in June 2025. Distribution is supported by EPC partners for construction and Bureau Veritas for safety and compliance certification. Revenue derives from a hybrid of hardware sales (boilers) and recurring/usage-based fees tied to long-term fuel supply and industrial heat delivery. Pricing is quote-based and not publicly disclosed.

The company is backed by a consortium of Dutch institutional investors led by pension fund PGGM (€83.1M Series B in March 2026), with participation from Invest-NL, Oost NL, Rubio Impact Ventures, BOM, and Energietransitiefonds Rotterdam, plus a €30.7M EU Innovation Fund grant. Total funding raised exceeds €113.8M. RIFT originated as a spin-out from Eindhoven University of Technology (TU/e) and maintains ongoing research ties through multiple R&D programs (OPZuid, MOOI, JTF, GENIUS). It graduated from the Breakthrough Energy Fellows Program in 2022–2023. Its stated mission is to enable 1 gigaton of CO₂ reduction per year by 2050 through industrial-scale deployment of circular iron fuel.

Name

RIFT

Legal name

RIFT Development B.V.

Website

https://ironfueltechnology.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

51–100 employees

Short description

RIFT (Eindhoven, Netherlands) commercializes Iron Fuel Technology — a circular iron-powder energy carrier combusted for zero-direct-CO₂ industrial heat and regenerated with low-carbon hydrogen — selling Iron Fuel Boilers paired with long-term fuel supply contracts to energy-intensive industries (food processing, chemicals, building materials) in Northwestern Europe.

Ownership category

akta.pro rank

Product category

Industrial Heat Decarbonization

NAICS

Industrial Process Furnace and Oven Manufacturing (333994), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Power Boiler and Heat Exchanger Manufacturing (332410)

SIC

Industrial Process Furnaces & Ovens (3567), Heating Equipment, Except Electric & Warm Air Furnaces (3433)

akta.pro primary industry

Boilers, Furnaces & Process Heating Equipment (IMAHAKAD)

akta.pro secondary industries

Industrial Boilers, HRSGs & Steam Generators (IMAHAFAF), Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC), Industrial Fuel Switching & Conversion Services (Oil/Coal-to-Gas, Burner/Boiler Retrofits) (EUALALAJ), High-Temperature Process Heat Electrification (E-Boilers, E-Furnaces, Induction, Plasma) (EUABAJAA)

Keywords

• Industrial heat decarbonization
• Iron fuel technology
• Circular energy carrier
• Clean industrial heating
• Renewable thermal energy

Headquarters

HQ city

Eindhoven

HQ country

Netherlands

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Iron Fuel Boiler Sales and Supply: Sale and installation of Iron Fuel Boiler systems to industrial customers, with long-term fuel supply contracts ensuring recurring revenue. The boiler integrates with existing infrastructure and is supplied alongside a guaranteed steady fuel supply. The first commercial contract with Kingspan Unidek includes both boiler delivery and a long-term iron fuel supply contract.
2. Iron Fuel Supply Contracts: Long-term iron fuel supply contracts provide recurring revenue as the primary fuel is consumed by customers' Iron Fuel Boiler installations. Circular model: iron oxide by-product is collected, transported to production plants, and regenerated using hydrogen for repeat delivery.
3. Industrial Heat Delivery: The Iron Fuel Boiler generates heat (steam, hot water, hot air) delivered directly to industrial processes. Revenue is tied to heat volume delivered under long-term contracts, providing predictable recurring income aligned with industrial heat demand.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

RIFT develops and commercializes Iron Fuel Technology, a circular energy system using fine iron powder that combusts to produce high-temperature industrial heat (up to 2,000°C) without direct CO2 emissions. The company manufactures and sells Iron Fuel Boiler systems (1–2 MW) for industrial heat applications, builds Iron Fuel Production plants that regenerate iron oxide into iron fuel using low-carbon hydrogen, and provides long-term iron fuel supply contracts to industrial customers. Target customers are energy-intensive industries including food processing, chemicals, building materials, and district heating utilities.

Product overview

RIFT offers a unified Iron Fuel Technology platform centered on circular iron powder as an energy carrier for industrial heat decarbonization. The core portfolio consists of three integrated components: the Iron Fuel Boiler (combusting iron powder at up to 2,000°C), the Iron Fuel Production System (regenerating iron oxide using hydrogen), and the Iron Fuel itself (stored and transported as a solid energy carrier). The company is developing commercial production facilities (Alpha One in Antwerp, Rotterdam expansion) alongside R&D projects (OPZuid, MOOI, JTF, GENIUS) and has signed its first commercial contract with Kingspan Unidek for boiler installation and long-term fuel supply.

Differentiator

Problem solved

Functional benefit

Brands

• Iron Fuel Technology: Patented technology that uses iron powder as a circular energy carrier - iron burns to produce heat without CO2 emissions, and iron oxide is regenerated using hydrogen.

Products and services

• Iron Fuel Boiler Industrial boiler system (1–2 MW combustion unit) that combusts fine iron powder with ambient air to create a flame of up to 2,000°C, producing steam, hot water, or hot air for industrial processes. Generates zero direct CO2 emissions and ultra-low NOx emissions, integrating plug-and-play with existing boiler infrastructure. Designed for energy-intensive industrial customers in food processing, chemicals, and building materials sectors.
• Iron Fuel Fine iron powder (Fe) supplied as a circular, rechargeable energy carrier for industrial heat applications. Stored and transported to boiler locations as a safe, solid energy carrier. Sold via long-term supply contracts to industrial customers whose Iron Fuel Boilers consume the fuel on an ongoing basis. The by-product (iron oxide/rust) is collected, transported to production plants, and regenerated into iron fuel using low-carbon hydrogen.
• Iron Fuel Production System Production facility and regeneration system that converts iron oxide (rust by-product from combustion) back into iron fuel using low-carbon hydrogen, completing the circular energy cycle. Sited near low-carbon hydrogen sources to enable the endlessly reusable nature of the fuel. Operational at 200 kW pilot scale in Arnhem, with commercial-scale deployment planned at Alpha One (Antwerp) and Rotterdam (Maasvlakte) sites.

Quantifiable outcome

• 340 GWh of industrial heat per year delivered by first commercial project (targeting operations by 2029)
• +6 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, flagship and minor.

• LAUNCH2 Hydrogen Innovation AlliancecoreStrategic or Co-development Partner · 21 May 2026New hydrogen innovation partnership launched at World Hydrogen Summit 2026 in Rotterdam. RIFT's circular iron fuel facility is one of the supported initiatives, alongside FLIE SubZero Rotterdam pilot hall for industrial electrification. The alliance brings together Port of Rotterdam Authority, municipalities, Province of South Holland, InnovationQuarter, TU Delft, TNO, and Smart Delta Drechtsteden to accelerate hydrogen innovation and strengthen Rotterdam's position as a European hydrogen hub.
• Port of Rotterdam AuthoritycoreStrategic or Co-development Partner · 11 May 2026RIFT signed a reservation agreement with Port of Rotterdam for a location at the Maasvlakte, supporting commercial-scale Iron Fuel Production project development in Northwestern Europe. The Rotterdam project forms part of RIFT's broader roadmap toward large-scale deployment alongside the Antwerp plans. Building on RIFT's existing relationship with InnovationQuarter (Port region investor).
• EvonikflagshipStrategic or Co-development Partner · 1 January 2026Evonik hosts the Alpha One commercial production facility at its site in Antwerp, Belgium. Alpha One is designed to produce 120,000 tonnes of Iron Fuel annually. The site provides industrial infrastructure and proximity to hydrogen sources for the regeneration process.
• Bureau VeritascoreImplementation/ SI/ Consulting Partner · 16 October 2025Global expert in testing, inspection, and certification services. Partnership ensures safe and compliant deployment of Iron Fuel Technology by integrating safety, quality, and compliance principles into system design from early stages of commercialisation. RIFT CEO Mark Verhagen stated the partnership signals that the technology is ready for the real world.
• Kingspan UnidekflagshipStrategic or Co-development Partner · 14 June 2025First commercial customer worldwide for industrial use of Iron Fuel Technology. Contract includes delivery of an Iron Fuel Boiler and a long-term fuel supply contract for Kingspan Unidek's facility in Gemert, Netherlands. Partnership is part of Kingspan's Planet Passionate sustainability program. Kingspan CEO Gene Murtagh called the collaboration 'a glimpse of how industrial decarbonization can truly work in practice.'
• EnnatuurlijkcoreStrategic or Co-development Partner · 1 January 2024District heating company and partner in the JTF (Just Transition Fund) project in Bergen op Zoom. Also a partner in the Mooi project. Ennatuurlijk hosts the Iron Fuel Boiler demo at its Helmond site. The partnership explores Iron Fuel combined with electrification for district heating decarbonization.
• TU/e (Eindhoven University of Technology)coreStrategic or Co-development Partner · 1 January 2024RIFT originated as a spin-out from TU/e. The iron fuel concept originated from research conducted at TU/e in collaboration with the Metal Power Consortium and ESA (European Space Agency) project. TU/e continues as a partner in multiple R&D tracks (Mooi project, Genius project) and the broader Brainport ecosystem.
• VeoliaminorStrategic or Co-development Partner · 15 October 2022Project partner in both the Mooi and OPZuid projects. Contributes to real-world demonstration and validation of Iron Fuel Technology under operational conditions.

Scale indicators9 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Rondo Energy: Rondo Energy provides industrial heat decarbonization via high-temperature thermal energy storage and electric heaters; competes for the same energy-intensive industrial customers RIFT targets (food, chemicals, building materials) seeking to replace fossil-fuel process heat with zero-carbon alternatives.
• Antora Energy: Antora Energy decarbonizes industrial heat and power using thermal energy storage charged by renewable electricity; targets the same hard-to-abate industrial heat market RIFT addresses with a different storage/delivery mechanism, competing for capex budgets and long-term offtake contracts.
• Brenmiller Energy: Brenmiller Energy supplies bGen thermal energy storage systems that convert waste heat and renewable electricity into process steam and heat for industrial customers; directly competes in decarbonizing high-temperature industrial heat with a complementary storage-based approach.
• Electrified Thermal Solutions (ETS, Jupiter Ionics): Electrified Thermal Solutions (formerly Jupiter Ionics) produces Joule Hive thermal batteries that deliver high-temperature industrial heat from renewable electricity, targeting similar sectors as RIFT (food, chemicals, building materials) with electrification rather than a fuel-based loop.

Emerging players

• Heliogen: Heliogen uses concentrated solar thermal technology to deliver carbon-free high-temperature process heat for industrial applications such as cement, steel, and chemicals; overlaps with RIFT's focus on high-temperature industrial heat decarbonization but uses solar rather than a circular fuel.
• Sunfire: Sunfire produces industrial hydrogen and synthetic fuels via high-temperature electrolysis, targeting hard-to-abate sectors including industrial heat; overlaps with RIFT's industrial decarbonization mission and its reliance on hydrogen for fuel regeneration.
• Bloom Energy: Bloom Energy provides solid-oxide fuel cells that generate electricity and high-quality heat from hydrogen and natural gas for industrial and data center customers; overlaps with RIFT's industrial decarbonization mission and its reliance on hydrogen-based clean energy pathways.

Broad incumbents

• Babcock & Wilcox: Babcock & Wilcox is an established global supplier of industrial boilers, steam generation, and heat-exchange equipment, including hydrogen-capable combustion technologies; a broad incumbent in RIFT's core industrial boiler and process heating equipment market.
• Andritz AG: Andritz supplies industrial boilers, heat-treatment furnaces, and pulp-and-paper process equipment globally; competes with RIFT in industrial heat-treatment and boiler markets as a broad incumbent with much larger scale and product breadth.
• Inductotherm Group: Inductotherm is a leading supplier of induction melting and heating equipment for metal processing industries; competes with RIFT's high-temperature heat offerings in metal and materials processing, offering a mature electrification pathway for industrial heat.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@renewableironfueltechnology
• LinkedInlinkedin.com/company/renewableironfueltechnology

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds4 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RIFT