Ayrton Energy Secures $9.1M for US Expansion of Hydrogen Storage Solution
Key Ideas
- Ayrton Energy secures $9.1 million in seed financing to advance the US expansion of its hydrogen storage solution.
- The startup's innovative hydrogen storage system operates at low temperatures and low pressure, making it affordable and safe.
- Clean hydrogen is expected to significantly reduce CO₂ emissions, and Ayrton aims to address cost and infrastructure challenges in the sector.
- The company plans to scale its technology, grow its team, and establish a presence in key energy hubs in the United States.
Ayrton Energy, a Calgary-based cleantech startup, has successfully closed a $9.1 million CAD seed financing round to support the US expansion of its hydrogen storage solution. The funding, co-led by Clean Energy Ventures and BDC Capital, will help Ayrton scale its technology and establish a foothold in energy hubs across the United States. The startup's innovative hydrogen storage system operates at low temperatures and low pressure, allowing hydrogen to be stored in an organic liquid, making it safer and more cost-effective than existing options. Ayrton aims to address key challenges in the clean hydrogen sector, such as high transport costs and limited storage infrastructure. With the potential to significantly reduce CO₂ emissions, clean hydrogen is vital for achieving emissions-free energy systems. Ayrton plans to double its team size and set up operations in US locations like Houston, Texas, with future projects planned for California, Texas, and the US northeast. The company's technology has received funding from Alberta Innovates and aligns with Alberta's ambitions to lead in clean hydrogen production. Ayrton's advancements in hydrogen storage have garnered positive attention, with investors recognizing the potential for substantial greenhouse gas reductions and aiding Canada in meeting its climate targets. Ayrton Energy's commitment to innovation and sustainability underscores its role in advancing clean energy solutions globally.
Topics
Power
Carbon Emissions
Investment
Cleantech
Startup
Energy Access
Technology Scaling
Energy Hubs
Canadian Innovation
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