Hydrogen – Advanced Ionics Secures $4.2 Million to Accelerate Development of Next-Generation Electrolyzer Products
Advanced Ionics uses low-cost renewable energy to produce green hydrogen at a lower price than today’s cost of hydrogen derived from fossil fuels, using far less electricity than other electrolyzers. This new funding will allow the company to advance its product development roadmap and scale, and implement pilot projects with its customers.
Heavy industry is one of the most carbon-intensive sectors, responsible for 20% of greenhouse gas emissions. To meet this challenge, Advanced Ionics provides a highly sustainable and low cost alternative in the context of the need to reduce dependence on natural gas for climatic and geopolitical reasons in key markets such as Europe. The company’s symbiotic electrolyser technology was designed to reduce costs by integrating with pre-existing industrial facilities and industrial processes.
Power-intensive alkaline and membrane electrolysers require high electricity consumption, typically over 50 kWh/kg. Advanced Ionics’ electrolysers run on site waste and process the heat supply, reducing typical electricity needs by up to 40%, the primary cost driver of green hydrogen production.
“The green hydrogen market is expected to grow at an extraordinary rate over the next few decades as the most viable approach to decarbonizing heavy industry,” said Daniel Goldman, co-founder and managing partner of Clean Energy Ventures. “But, to date, green hydrogen has not been competitive or reliable to enable widespread use. After more than five years of evaluating the industry, we have backed Advanced Ionics because we believe this leadership team can to scale a highly competitive technology to produce the cheapest green hydrogen at scale Our investment in Advanced Ionics is based on a shared end goal to provide the most polluting industries with a highly competitive and scalable decarbonization solution .
Advanced Ionics is based in the Midwest, a region with deep roots in manufacturing and industry. The current levelized cost of green hydrogen produced by electrolysis is around $4-5/kg, according to IHS Markit estimates; Advanced Ionics claims its electrolysis can provide clean hydrogen without the green premium, for less than $1/kg using Symbiotic steam electrolysis at many industrial sites.
The company will develop a series of demonstration projects over the next year with partners before expanding to roll out larger-scale projects and a full-scale electrolyser manufacturing plant to serve key markets such as Europe and North America.
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