Advanced Ionics closed $12.5 million of 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 facilitate the initial deployment of Advanced Ionics Symbion water vapor electrolyzer technology. Water vapor electrolyzers address two of the biggest obstacles to expanding green hydrogen production: cost and electricity requirements.
“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 toward decarbonization,” Chad Mason, CEO of Advanced Ionics, said.
The company said its water vapor electrolyzer helps reduce the cost and electricity requirements for green hydrogen production by integrating with standard industrial processes to harness available heat. The system is made of widely available steels and other simple materials rather than expensive metals or materials common in other electrolyzers.