Subra has raised €40 million in a Series A funding round to accelerate its push to become a leading European force in superconducting technologies, while simultaneously acquiring long-time partner THEVA to expand its manufacturing and technical capabilities.
The round was led by Novo Holdings, with participation from Maj Invest and SPRIND. The funding supports Subra’s acquisition of THEVA, a Germany-based producer of advanced superconducting materials, marking a significant step toward vertically integrating innovation and production.
The combined company brings together Subra’s superconducting cable technology with THEVA’s manufacturing expertise and proprietary material science. This integration is expected to position the business as a European leader in high-performance superconductors, targeting applications across energy systems, infrastructure, research, and industrial markets.
The expansion also reflects a broader strategic push to strengthen Europe’s domestic capabilities in critical technologies. By enhancing regional manufacturing capacity, the deal aims to improve supply chain resilience and technological independence amid growing geopolitical and infrastructure challenges.
The newly combined entity will be headquartered in Denmark, while continuing to leverage established operations in Germany to scale production and serve international markets.
Subra, a Danish deep-tech company, focuses on developing superconducting solutions for zero-loss power transmission and fusion energy. THEVA contributes more than three decades of expertise in high-temperature superconductors and thin-film deposition technology, enabling industrial-scale production of advanced materials.
KEY QUOTES:
“Today, we unite two pioneers at the forefront of superconductor technology to create the strongest possible platform for impact. Together, we are building a European champion in superconductors, anchored in decades of deep-tech innovation, scientific excellence, and advanced manufacturing expertise. We are taking this step at a critical moment, where Europe’s energy systems are under immense pressure. By bringing together our complementary technologies within one unified company, we are strengthening our ability to develop and deliver superconductor solutions to support the transformation of Europe’s energy landscape.”
Anders C. Wulff, CEO, Subra
“Advanced superconducting technologies are increasingly central to the future of energy systems and resilient infrastructure. This investment reflects our view that Europe must be able to retain and scale its own industrial capabilities in strategically important technologies. By supporting the combination of Subra and THEVA, we are backing a platform with the technical depth and ambition to become a strong European supplier in a field of growing global relevance.”
Anders Spohr, Managing Partner, Planetary Health Investments, Novo Holdings
“We are proud to be part of an innovative European company in the next chapter of our history, one that brings together the capabilities needed for the efficient production and development of new products and applications in the field of superconductors. Theva has a unique technical approach to the industrial production of superconductors. This capability provides an ideal foundation for the development and manufacture of large-scale processes and equipment.”
Lars Ruppert, Managing Director, THEVA
