bp Leads $12.5 million Series A investment In hydrogen electrolyzer firm Advanced Ionics
In the UK, bp said that Advanced Ionics, a developer of a new category of hydrogen electrolyzers useful for expanding green hydrogen production, closed a $12.5 million Series A financing led by bp ventures, with additional investors including Clean Energy Ventures, Mitsubishi Heavy Industries, and GVP Climate.
The new capital will help catalyze Advanced Ionics’ growth and facilitate the initial deployment of its Symbion water vapor electrolyzer technology for heavy industry.
“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 decarbonization,” 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 will use the funds to expand its team and deliver its next-generation electrolyzer systems to early customers.
Category: Hydrogen
