bp, Mitsubishi Invest in Advanced Ionics for Production of Hydrogen Electrolyzers

bp ventures led a $12.5 million Series A financing investment in Advanced Ionics—a developer of hydrogen electrolyzers that can help expand green hydrogen production—along with other investors: Clean Energy Ventures, Mitsubishi Heavy Industries, and GVP Climate.

“bp ventures’ investment in Advanced Ionics is a powerful backing of our technology’s potential to help accelerate green hydrogen’s future and heavy industry’s shift toward decarbonization,” said Chad Mason, CEO of Advanced Ionics. “The results we’ve achieved in our testing along with early customer interest have indicated that we are an ideal technology provider for industrial customers looking to augment, expand or replace their existing hydrogen production facilities with green hydrogen.”

The financial backing will facilitate the initial deployment of Advanced Ionics’ Symbion water vapor electrolyzer technology. It will address both cost and electricity requirements for green hydrogen production via integrating with standard industrial processes to harness available heat.

Since electricity use is responsible for more than 70% of green hydrogen production costs, the company’s electrolyzer stack reduces its use of electricity, requiring less than 35 kWh/kg of produced hydrogen, potentially lowering the cost of green hydrogen to less than $1/kg at scale.

“Advanced Ionics’ technology has the potential to drive down cost and disrupt the hydrogen market” said Gareth Burns, Vice President of bp ventures. “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.”