RIFT raises €113.8 million: further proof that student teams are engines of innovation

RIFT, A spin-off from student team SOLID, has raised €113.8 million in funding to further scale its Iron Fuel Technology. The investment marks an important milestone in the commercialization of the technology and once again demonstrates how student teams can evolve into true engines of innovation.

Originating from Team SOLID

The foundation of RIFT was laid approximately ten years ago within Team SOLID, a student team at Eindhoven University of Technology (TU/e) working on a circular energy system based on iron powder.

The technology enables the generation of high temperatures without direct CO₂ emissions. The residual product can be converted back into iron powder using renewable energy, creating a circular system particularly suited for industrial processes that require high-temperature heat.

As early as 2020, Team SOLID demonstrated the world’s first industrial-scale iron fuel installation at Bavaria Brewery (Swinkels Family Brewers) in Lieshout. The system was connected directly to the brewing process, proving that iron powder can function as a circular, CO₂-free fuel at industrial scale. Enabling the brewing of millions of glasses of beer. This practical demonstration formed the basis for the establishment of RIFT as a commercial spin-off.

From student team to scale-up

With the new funding, RIFT is taking the next step toward large-scale deployment and the construction of its first commercial production facility. The support from the EU Innovation Fund underscores confidence in the scalability and impact of the technology.

The fact that an initiative that began within a student team has developed within a decade into a mature cleantech scale-up with a strong investor base illustrates what is possible when talent, technology and entrepreneurship come together.

From student team to spin-off: building the future of circular energy.

Student teams as engines of innovation

The development of Team SOLID into RIFT is not an isolated case. In recent years, multiple startups and scale-ups have emerged from student teams and grown into fully operating companies with substantial impact, including ELEO (Team STORM), Lightyear (Solar Team Eindhoven) and DENS (FAST).

These examples show that student teams are far more than extracurricular projects. They are powerful innovation platforms where technology, entrepreneurship and societal ambition converge. With the right guidance, infrastructure and access to strong networks, student teams can grow into companies that deliver structural solutions to global challenges.

The €113.8 million investment in RIFT once again confirms this potential: major innovations often begin within small, multidisciplinary student teams. At BOOST, we are proud to contribute to supporting that development.