Ionomr Innovations closes USD$20M Series A-4 Financing with Broad Industry Participation
The distinguished roster of industry investors attests to Ionomr’s materials as breakthrough technology for the green hydrogen economy
VANCOUVER, CA AND ROCHESTER, USA - Media OutReach Newswire - 7 December 2023 - Ionomr Innovations Inc., developer and manufacturer of breakthrough, foundational polymer and membrane technologies for next-generation hydrogen applications, has closed a US$20 million 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.
"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. 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".
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.
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About Ionomr Innovations
Ionomr Innovations is revolutionizing electrochemistry with newly developed ion-exchange membranes and polymers for clean energy. Ionomr's Pemion® and Aemion® technologies provide cost, performance and sustainability advantages for fuel cells, hydrogen production and carbon capture, use and conversion. Leveraging technology developed at Simon Fraser University, Ionomr was founded in 2018 and employs 51 professionals in Vancouver, Canada and Rochester, USA. Visit www.ionomr.com.
