Advanced Ionics
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Lummus and Advanced Ionics Establish Partnership for Green Hydrogen
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced a new partnership with Advanced Ionics, a low-cost green hydrogen technology provider. This partnership includes an investment from Lummus Venture Capital to accelerate the commercialization of Advanced Ionics’ hydrogen electrolyzer technology and support the decarbonization efforts in the refining, gas processing and petrochemical industries. Lummus will also provide engineering services and supply proprietary equipment to create additional green hydrogen capacity for new builds and existing hydrogen users or producers.
By harnessing waste heat and low-cost clean electricity, Advanced Ionics’ Symbion™ Electrolyzers use up to 40 percent less electricity per kilogram of hydrogen produced than alkaline and PEM technologies. The system’s modular design allows for rapid deployment, ease of operation and maintenance, and the use of widely available components helps reduce capital costs.
bp Leads $12.5 Million Series A Investment In Low-Cost Hydrogen Electrolyzer Innovator, Advanced Ionics
Advanced Ionics, the 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. Water vapor electrolyzers address two of the biggest obstacles to expanding green hydrogen production: cost and electricity requirements.
Advanced Ionics Secures $4.2 Million To Enable A New Era For Decarbonization Of Industrial Hydrogen Production
Advanced Ionics, a leading provider of next-generation industrial electrolyzers that can produce hydrogen for less than $1/kg, today announced the closing of its initial financing of $4.2 million led by Clean Energy Ventures, a venture capital firm funding early-stage climate tech innovations, with participation from SWAN Impact Network. By requiring significantly less electricity than other electrolyzers, Advanced Ionics uses low-cost renewables or nuclear energy to produce green hydrogen for less than the current cost of fossil fuel-derived hydrogen. With the funding, Advanced Ionics will accelerate its product development roadmap and scale-up, and implement pilot projects with customers.