MILWAUKEE, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Advanced Ionics, the developer of a new class of green hydrogen electrolyzers aimed at accelerating decarbonization, announced today that it has raised an additional $6.7 million in funding from strategic investors JERA, Lummus Venture Capital, and the Argosy Foundation as well as existing investors Clean Energy Venture Group and bp Ventures. This new capital will be used to increase the pace of development of its water-vapor electrolyzer technology, as well as build out the company’s manufacturing and research and development facility.
“The missing piece of the green hydrogen market is a next-generation electrolyzer technology like Advanced Ionics’ that can deliver affordable green hydrogen,” said Takashi Ueda, General Manager at JERA. “Advanced Ionics’ solution has the potential to transform industrial decarbonization and we look forward to working with the company through its next phase of growth.”
In addition to the new investment, Advanced Ionics’ board of directors has appointed a new chief executive officer, Ignacio Bincaz. Ignacio has served as the company’s chief commercial officer since 2023. During this time, he has played an instrumental role in fundraising and developing initiatives that will drive revenue growth, including a recently announced partnership with Lummus Technology. Before his role at Advanced Ionics, Ignacio served as the Head of North America for H2Pro and a Senior Vice President at Worley, Inc.
Organizations
“The strategic investment from JERA, Lummus Technology, and bp Ventures underscores how we are creating a decarbonization platform purpose-built for industrial customers,” said Ignacio Bincaz, CEO of Advanced Ionics. “As we continue to focus on the commercialization and deployment of our electrolyzer technology, the additional investment will allow us to build on our recent successes and leverage these partnerships, accelerating our path to commercialization. I'm excited to lead this fantastic team through the company’s next phase of growth.”
Chad Mason, Advanced Ionics’ founder, will now serve as the company’s chief technology officer. Here, Chad will lead the research and development of the company’s electrolyzer technology and platform towards the first commercial products for industrial customers.
“Advanced Ionics is entering its next stage of development and I'm excited to have this additional strategic funding and Ignacio’s leadership to drive our commercialization forward. We believe our technology has the potential to revolutionize this market at a time when new technology is most critical, and we're building a world-class company to make that a reality,” said Chad Mason, Founder and CTO.
For more information, please visit www.advanced-ionics.com.
About Advanced Ionics
Advanced Ionics has created a decarbonized hydrogen platform that allows industrial hydrogen producers and users to achieve sustainability. The company’s Symbion™ Electrolyzer Technology works with process and waste heat to produce the lowest cost decarbonized hydrogen. Advanced Ionics is backed by industry investors bp and Mitsubishi Heavy Industries and venture capital firms Clean Energy Ventures and GVP Climate, and proudly headquartered in Milwaukee, Wisconsin. For more information, please visit https://advanced-ionics.com.
Media Contact:
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Silverline Communications
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