Advanced Ionics has secured $12.5 million from bp ventures to develop its Symbion™ electrolyzer. Clean Energy Ventures, Mitsubishi Heavy Industries and GVP Climate are also involved in the project. The funding is intended to support expansion and solve the challenges of green hydrogen production.
Revolutionizing Green Hydrogen Production:
Steam electrolyzers are developed by Advanced Ionics. They target the obstacles to green hydrogen. Integrated into industrial processes, they use heat. Reducing costs and energy requirements, these electrolyzers are innovative. The system consists mainly of available materials. Common steels distinguish it from metal-intensive electrolyzers. This innovation is crucial. Electricity consumption dominates, accounting for over 70% of green hydrogen expenditure.
Efficiency and accessibility:
Advanced Ionics’ electrolytic cell is remarkably efficient, requiring less than 35 kWh per kilogram of hydrogen produced, compared with the conventional figure of over 50 kWh per kilogram. This lower demand for electricity could potentially pave the way for access to green hydrogen at less than $1 per kilogram on a large scale. Gareth Burns, Vice President of bp ventures, points out that this technology has the potential to dramatically reduce costs and disrupt the hydrogen market, aligning with bp’s commitment to support the transition to a carbon-neutral future.
Investing in Growth :
The funds raised will play a key role in Advanced Ionics’ growth trajectory. The company plans to expand its workforce and deliver its new-generation electrolyser systems to its first adopters. A pilot program with the Repsol Foundation, a global energy company, testifies to the effectiveness of Advanced Ionics’ product. As part of this partnership, bp will also explore pilot opportunities with the company, reinforcing its commitment to green hydrogen technology.
“Advanced Ionics’ technology has the potential to reduce costs and disrupt the hydrogen market,” said Gareth Burns, vice president of bp ventures. “bp has a global portfolio of hydrogen projects, and as the world moves to a carbon-neutral future, it’s important for us to invest in these technologies and advance the path to green hydrogen deployment. We look forward to working with Advanced Ionics in the next stage of its growth.”
Key investors and industry context :
In addition to bp ventures, other significant investors include Aster, Clean Energy Venture Group, SWAN Impact Network and Mitsubishi Heavy Industries. Hydrogen is one of bp’s strategic pillars, alongside bioenergy, electric vehicle charging, convenience, renewable energies and energy. This investment aligns with bp’s overall goal of becoming an integrated energy company while simultaneously navigating today’s energy landscape.
“bp ventures’ investment in Advanced Ionics is a strong endorsement of our technology’s potential to accelerate the future of green hydrogen and drive heavy industry’s transition to decarbonization,” said Chad Mason, CEO of Advanced Ionics. “The results we’ve achieved in our trials, as well as early customer interest, indicate that we are an ideal technology provider for industrial customers looking to enhance, expand or replace their existing hydrogen production facilities with green hydrogen.”
