Ionomr Innovations – a developer and manufacturer of breakthrough foundational polymer and membrane technologies for next-generation hydrogen applications – recently announced it had closed $20 million in a Series A-4 funding round with returning lead investors NGIF Cleantech Ventures and Pallasite Ventures supported by Shell Ventures, Chevron Technology Ventures, and Finindus, and joined by N.V. Bekaert, Asahi Kasei, Samsung Ventures and SAIC Capital.
Green hydrogen production, hydrogen fuel cells and efficient carbon utilization are critical to reducing emissions in hard-to-decarbonize heavy industries like steel making, chemical production, long-term seasonal energy storage, heavy-duty transport, aviation and shipping.
This funding round will enable Ionomr to further scale its ion-exchange membranes and polymers Aemion and Pemion, which are fundamental to accelerating the hydrogen economy — from production of H2 gas and chemicals through electrolysis to efficient use of hydrogen in fuel cells. Ionomr’s superior materials can make more efficient, cost-competitive solutions possible, including eliminating expensive precious metal requirements from hydrogen production, CO2 electrolysis and supporting higher-temperature fuel cell solutions.
KEY QUOTE:
“We are delighted to receive the financial support of industry players that represent the full spectrum of the hydrogen ecosystem. The participation of leaders across our industry underscores that Ionomr is delivering proven competitive advantages to our customers and their system users. It reinforces that Ionomr’s Aemion® is a viable solution for improving the economics in the hydrogen economy and that Ionomr’s Pemion® enables higher-temperature operation, essential for fuel cells in next-generation heavy-duty transportation to succeed, while eliminating toxic “forever chemicals”.
— Bill Haberlin, CEO of Ionomr Innovations
