BP Leads $12.5 Million Investment in Advanced Ionics, a Pioneer in Low-Cost Hydrogen Electrolyzers – EQ Mag
Cutting-edge hydrogen electrolyzer developer Advanced Ionics has successfully concluded a Series A financing round, securing a total of $12.5 million. The round was led by BP Ventures, with participation from prominent investors including Clean Energy Ventures, Mitsubishi Heavy Industries, GVP Climate, and others.
The infusion of capital will play a pivotal role in propelling the growth of Advanced Ionics and facilitating the initial implementation of its groundbreaking Symbion™ water vapor electrolyzer technology, aimed at revolutionizing green hydrogen production for heavy industries. This innovative technology addresses two of the most significant hurdles in the expansion of green hydrogen production: high costs and substantial electricity demands.
Chad Mason, CEO of Advanced Ionics, expressed enthusiasm for the investment, stating, “BP Ventures’ support in Advanced Ionics reflects a strong endorsement of our technology’s potential to accelerate the adoption of green hydrogen and drive decarbonization in heavy industries.”
The core aspect of the Symbion™ water vapor electrolyzer lies in its capacity to substantially lower the cost and electricity prerequisites for green hydrogen production. This is achieved by synergistically integrating with existing industrial processes to harness available heat. Unlike traditional electrolyzers that rely on costly metals and materials, the Symbion system is constructed using commonly available steels and simple materials.
With electricity expenses accounting for over 70 percent of green hydrogen production costs, Advanced Ionics’ electrolyzer stack represents a significant breakthrough. It consumes less than 35 kWh per kilogram of produced hydrogen, a substantial improvement over the typical 50 kWh per kilogram required by conventional electrolyzers. This lower energy consumption has the potential to bring down the cost of green hydrogen to below $1 per kilogram at scale.
Gareth Burns, Vice President of BP Ventures, remarked, “Advanced Ionics’ technology possesses the capability to reshape the hydrogen market by reducing costs. As we steer towards a net-zero future, BP is committed to investing in such technologies to advance the deployment of green hydrogen.”
The funds procured from this financing round will enable Advanced Ionics to expand its workforce and expedite the delivery of its next-generation electrolyzer systems to early adopters. The company’s prowess has already been demonstrated through a pilot program conducted with global energy giant Repsol Foundation. In addition to the investment from BP Ventures, the company will collaborate on pilot projects. Other investors in Advanced Ionics include Aster, as well as angel investor collectives Clean Energy Venture Group and SWAN Impact Network.
