Vancouver’s Ionomr Innovations has closed a $15 million US Series A funding round with lead investors Shell Ventures and Finindus, joined by Chevron Technology Ventures (CTV), NGIF Cleantech Ventures and Pallasite Ventures.
Ionomr is advancing the development and manufacturing of ion-exchange membranes and polymers for the hydrogen economy. Ionomr’s Pemion® and Aemion® technologies provide cost, performance and sustainability advantages for fuel cells, hydrogen production, carbon utilization, and advanced energy storage.
Leveraging technology developed at Simon Fraser University, Ionomr was founded in 2018 and employs 31 at its research and manufacturing facilities in Vancouver.
In 2021 Ionomr was named to Techcouver’s 10 Homegrown B.C. Startups to Watch list and was selected to join the World Economic Forum’s Tech Pioneers. Last week Ionomr was one of seven B.C. Companies Named to 2022 Global Cleantech 100.
“This strategic investment demonstrates the industry’s confidence in Ionomr’s leading membrane and polymer technology,” said Bill Haberlin, CEO of Ionomr Innovations.
“Green hydrogen production, hydrogen fuel cells and efficient carbon utilization are all critical to reducing emissions in hard to decarbonize heavy industries such as steel making, chemical production, long-term seasonal energy storage, heavy duty transport, aviation and shipping. The backing of these industry partners will allow us to significantly accelerate scale-up and deployment and realize our potential for revolutionizing the enabling materials in this field.”
The funding will allow Ionomr to further scale its ion exchange membranes and polymers that are fundamental to the acceleration of the hydrogen economy.