Green hydrogen electrolyser developer Advanced Ionics will receive $12.5m in Series A financing led by bp ventures.
The investment is expected to catalyse the US-based, start-up company’s growth and allow for the initial deployment of its Symbion™ water vapor electrolyser technology for the heavy industry, which could potentially address cost and electricity requirements.
With electricity accounting for more than 70% of green hydrogen production costs, Advanced Ionics’ electrolyser stacks requires less than 35kWh per kg of produced hydrogen compared to more than 50kWh per kg for typical electrolysers. The lower requirement of the technology could make green hydrogen accessible for less than $1 per kg at scale.
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