Ecolectro, a green hydrogen technology company in Ithaca, New York, has successfully closed a $10.5M Series A funding round led by Toyota Ventures. This funding aims to advance their Anion Exchange Membrane (AEM) electrolyzers that enable affordable and efficient green hydrogen production, addressing the challenges faced by the hydrogen industry. Ecolectro's innovative technology operates at under $2.50/kg with over 70% efficiency, exceeding the performance of existing PEM and alkaline systems. By utilizing a proprietary membrane chemistry, Ecolectro eliminates the need for rare earth materials and harmful chemicals like PFAS, making their solution more sustainable and cost-effective. Their electrolyzers can integrate with renewable energy sources and provide reliable performance even with variable energy inputs, offering flexibility to customers in various industries. Ecolectro's modular design allows for scalable adoption without large upfront investments, promoting on-site hydrogen production to lower costs and environmental impacts. Customers using Ecolectro's electrolyzers are eligible for green hydrogen tax credits, enhancing the economic attractiveness of the solution. The successful deployment of a pilot program with Liberty New York Gas showcases the viability of producing green hydrogen at a competitive price, with plans to scale up for larger projects. The Series A funding will propel Ecolectro towards commercializing affordable green hydrogen on a larger scale, driving towards a sustainable and cost-efficient future.