Today the Vancouver company announced the close of a USD $20 million Series A-4 funding round with returning lead investors NGIF Cleantech Ventures and Pallasite Ventures.
Ionomr develops and manufactures breakthrough, foundational polymer and membrane technologies for next-generation hydrogen applications.
Green hydrogen production, hydrogen fuel cells and efficient carbon utilization are 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 funding will allow Ionomr to further scale its ion-exchange membranes and polymers, Aemion® and Pemion®, that 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.
“We are delighted to receive the financial support of industry players that represent the full spectrum of the hydrogen ecosystem,” said Bill Haberlin, CEO of Ionomr Innovations.
“The participation of leaders across our industry underscores that Ionomr is delivering proven competitive advantages to our customers and their system users”
The funding round was supported by Shell Ventures, Chevron Technology Ventures and Finindus, and joined by N.V. Bekaert, Asahi Kasei, Samsung Ventures and SAIC Capital.