EVōLOH has received investment from 3M to support the scale-up of its novel alkaline electrolysers.
EVōLOH’s innovative approach sees them manufacture electrolysers with core components that don’t require precious metals or rare materials, therefore resulting in lower costs for installation and maintenance.
3M is committed to investing in materials science-based climate tech solutions and this investment is one of several made to enhance hydrogen technologies. For example, the company recently signed a joint research project agreement with Hyundai KSOE to develop liquid hydrogen storage tanks.
Read more:HD KSOE and 3M partner on liquid hydrogen storage developments
3M’s venture capital arm, 3M Ventures, also participated in EVōLOH’s $20m Series A fundraising round, designed to expand manufacturing capabilities and introduce additional solutions for its Nautilus™ platform of advanced liquid alkaline electrolysers.
Senior Vice-President at 3M New Growth Ventures, Mark Copman, claimed the investment in EVōLOH will support the hydrogen economy and “move the planet toward a clean energy transition.”
“3M has the opportunity to leverage our long-standing expertise in high volume membrane electrode assembly and shares EVōLOH’s vision to make clean and affordable hydrogen available around the world,” he added.
Dr. Jimmy Rojas, Foudner and CEO of EVōLOH, commented, “This round of funding positions EVōLOH to lead the electrolyser manufacturing market by transforming electrolyser stacks into affordable, efficient hardware commodities made with 100% local supply chains.”
In February (2023), EVōLOH achieved extremely stable and high efficiency performances following testing of its liquid alkaline electrolysers. These tests will allow the company to proceed to demonstration projects with several partners throughout this year.
Read more:EVōLOH advances alkaline electrolyser product offering following successful tests
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