Today, Subra closed its €40 million Series A investment round led by Novo Holdings with co-investors Maj Invest and SPRIND. The investment supports Subra’s acquisition of its long-standing partner, THEVA, a Germany-based producer of superconducting materials, from today onwards.
Combining Subra’s innovative superconducting cable technology and THEVA’s manufacturing capabilities and breakthrough material science consolidating the combined company as the European leader of high-performance superconductors for future energy systems, strategic infrastructure and more.
By strengthening Europe-based manufacturing in a strategic technological area, the Series A investment contributes to greater supply-chain resilience and technological autonomy at a time of heightened geopolitical, infrastructural, and supply-chain uncertainty.
Subra and THEVA will be headquartered in Denmark. The expanded company will utilise and extend both its Danish base and established German facilities to scale European production capacity serving customers across energy, research, and industrial markets internationally.
Anders C. Wulff, CEO, Subra, said:
“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 Spohr, Managing Partner, Planetary Health Investments at Novo Holdings, said:
“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.”
Lars Ruppert, Managing Director, THEVA, said:
“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.”
About Subra A/S
Subra is a Danish deep-tech developing revolutionary superconductor solutions for zero-loss power transmission and fusion energy.
As an impact company rooted in science, Subra strives to shape a future where energy flows without limits – clean, connected, and carbon-free. The growing team of 40+ specialists have brought about significant technological leaps, putting Subra at the vanguard of the field by demonstrating some of the world’s most advanced high-temperature superconductors.
About THEVA
Backed by over 30 years of expertise in high-temperature superconductors, THEVA is unlocking the future of electrical technology with purpose-built high-performing superconductors. The THEVA team consists of approx. 60 specialists, that engineers and produces advanced superconducting materials based on THEVA’s proprietary thin-film deposition technology.
With THEVA’s high-performing superconductors, THEVA is transforming breakthrough material science into industrial production, bridging research, manufacturing and real-world application.
About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation.
The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets
of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novonesis and manages an investment portfolio with a long-term return perspective.
In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Planetary Health Investments and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2025, Novo Holdings had total assets of €93 billion.
Press contact
Sarah Børresen (DK)
Chief Strategy Officer, Subra A/S
sabo@subra.dk
+45 44 12 84 84