Venture Capital: Advanced Ionics Raises $12.5M In bp-Led Series A Round

Advanced Ionics is an innovator in low-cost hydrogen electrolyzers that use existing process heat for energy.

Advanced Ionics, a company pioneering innovative hydrogen electrolyzers for green hydrogen production, has successfully concluded a $12.5 million Series A financing round, with prominent support from bp ventures, Clean Energy Ventures, Mitsubishi Heavy Industries (TYO: 7011), and GVP Climate.

This funding will invigorate Advanced Ionics’ expansion efforts and facilitate the initial deployment of its Symbion™ water vapor electrolyzer technology, targeting heavy industries. This technology addresses two key challenges in expanding green hydrogen production: high costs and significant electricity demands.

Advanced Ionics’ water vapor electrolyzer integrates seamlessly with existing industrial processes, leveraging available heat to reduce both production costs and electricity requirements for green hydrogen. Unlike traditional electrolyzers that rely on expensive materials, Advanced Ionics employs readily available materials, minimizing costs.

One of the most significant hurdles in green hydrogen production is the high electricity consumption, constituting over 70% of production costs. However, the company’s electrolyzer stack consumes less than 35 kWh per kilogram of produced hydrogen, compared to the typical 50 kWh per kilogram. This could pave the way for green hydrogen to be produced at less than $1 per kilogram on a large scale. Notably, the company is already demonstrating its technology’s effectiveness through a pilot program with Repsol Foundation.

This investment aligns with bp’s strategic vision of investing in transition growth engines, including hydrogen, as it aims to evolve into an integrated energy company. The others are bioenergy, convenience, electric vehicle charging, and renewables & power.

Related Story: Ohmium, Maker Of Green Hydrogen Electrolyzers, Lands $250M Series C

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