Success! You're on the list.

Success! You're on the list.

bp ventures leads $12.5M Series A investment in Advanced Ionics for green hydrogen innovation

Advanced Ionics funding
Picture credits: Advanced Ionics

Green hydrogen is a powerful vision. It’s a global necessity to beat back climate change. But it’s too expensive. With advanced, next-generation ionics, it is possible to produce green hydrogen at much lesser costs. 

This is where US-based Advanced Ionics comes into the picture with its green hydrogen platform that allows industrial hydrogen producers and users to achieve sustainability, without sacrificing profit. It combines its breakthrough electrolyzer technology with onsite process and waste heat from industrial sites to produce green hydrogen for less than a dollar per kilogram. 

In a recent development, the developer of a new category of hydrogen electrolyzers useful for expanding green hydrogen production, has closed a $12.5 million Series A financing led by bp ventures (which recently backed Service4Charger, Magenta Mobility and Flylogix), with participation from additional investors, including Clean Energy Ventures, Mitsubishi Heavy Industries, and GVP Climate. 

Development of water vapour electrolyzer tech

The new capital will help catalyse Advanced Ionics’ growth and facilitate the initial deployment of its Symbion water vapour electrolyzer technology for heavy industry. The company plans to expand green hydrogen production and uptake in the heavy industry by reducing the cost and electricity requirements, which would overcome two of the biggest obstacles to commercialising green hydrogen.

Advanced Ionics will use the funds to expand its team and deliver its next-generation electrolyzer systems to early customers. The company is already demonstrating the efficacy of its product through a pilot program with global energy company Repsol Foundation. 

In addition to the investment, bp will also be exploring pilot opportunities with Advanced Ionics. Other investors in Advanced Ionics include Aster, and angel investor collectives Clean Energy Venture Group and SWAN Impact Network.

“bp ventures’ investment in Advanced Ionics is a powerful backing of our technology’s potential to help accelerate green hydrogen’s future and heavy industry’s shift towards decarbonisation,” said Chad Mason, CEO of Advanced Ionics. “The results we’ve achieved in our testing along with early customer interest have indicated that we are an ideal technology provider for industrial customers looking to augment, expand or replace their existing hydrogen production facilities with green hydrogen.”

“Advanced Ionics’ technology has the potential to drive down cost and disrupt the hydrogen market” said Gareth Burns, vice president of bp ventures. “bp has a global portfolio of hydrogen projects, and as the world transitions to a net zero future, it’s important to us to be investing in these technologies and advance the track to deploying green hydrogen. We look forward to working with Advanced Ionics on the next stage of its growth.”

Low-cost green hydrogen

Chad Mason’s brainchild, established in 2017, aims to revolutionise green hydrogen production. Their water vapour electrolyzer doesn’t just lower costs but also trims electricity needs by cleverly joining forces with regular industrial processes to tap into existing heat. Unlike pricier counterparts, this system employs readily accessible materials like common steels, making the venture even more promising.

Electricity use accounts for more than 70% of green hydrogen production costs. Advanced Ionics’ electrolyzer stack requires less than 35 kWh per kilogram of produced hydrogen compared to more than 50 kWh per kilogram for typical electrolyzers. This lower electricity requirement could make green hydrogen accessible for less than $1 per kilogram at scale. 

Related Posts

Get daily funding news briefings in the tech world delivered right to your inbox.

Enter Your Email
join our newsletter. thank you