Advanced Ionics’ hydrogen electrolyzer requires 35kWh per kilogram of produced hydrogen compared to more than 50 kWh for typical electrolyzers, the company says. (Source: BP)
Wisconsin-based Advanced Ionics, the developer of a new type of hydrogen electrolyzer that splits water into hydrogen using less electricity, has closed $12.5 million in Series A financing led by BP Ventures, the energy giant said Aug. 15.
The capital from investors, which also includes Clean Energy Ventures, Mitsubishi Heavy Industries and GVP Climate, will be used to expand Advanced Ionics’ team and help deploy the company’s Symbion water vapor electrolyzer technology.
Advanced Ionics said its technology has lower costs and requires less electricity to produce hydrogen from renewable energy. Its electrolyzer stack, which is made from steel and uses available heat for the process, requires 35kWh per kilogram of produced hydrogen compared to more than 50 kWh for typical electrolyzers, the company said.
“Advanced Ionics’ technology has the potential to drive down cost and disrupt the hydrogen market,” BP Ventures Vice President Gareth Burns said in a news release. “BP has a global portfolio of hydrogen projects, and as the world transitions to a net zero future, it’s important to us to be investing in these technologies and advance the track to deploying green hydrogen. We look forward to working with Advanced Ionics on the next stage of its growth.”
The Symbion electrolyzer is already being used as part of a pilot program with Repsol Foundation. BP said it plans to explore pilot opportunities with Advanced Ionics as well.
Recommended Reading
Surge Closes on Divestment of Alberta Non-Core Gas Assets
2024-12-20 - Surge Energy said it has focused on developing its core Sparky and southeast Saskatchewan crude oil assets, leaving the Alberta non-core assets undercapitalized.
LandBridge Closes Deal for 46,000 Surface Acres in Delaware Basin
2024-12-20 - LandBridge Co., which held a successful IPO in August, added about 53,000 acres and now holds about 273,000 acres.
Crescent Energy Closes $905MM Acquisition in Central Eagle Ford
2025-01-31 - Crescent Energy’s cash-and-stock acquisition of Carnelian Energy Capital Management-backed Ridgemar Energy includes potential contingency payments of up to $170 million through 2027.
Petro-Victory Buys Oil Fields in Brazil’s Potiguar Basin
2025-02-10 - Petro-Victory Energy is growing its footprint in Brazil’s onshore Potiguar Basin with 13 new blocks, the company said Feb. 10.
Report: Diamondback in Talks to Buy Double Eagle IV for ~$5B
2025-02-14 - Diamondback Energy is reportedly in talks to potentially buy fellow Permian producer Double Eagle IV. A deal could be valued at over $5 billion.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.