Advanced Ionics Secures $6.7 Million Funding for Green Hydrogen Electrolyzer Development
Key Ideas
- Advanced Ionics secured $6.7 million in funding from JERA, Lummus Venture Capital, and other investors to accelerate the development of their water-vapor electrolyzer technology.
- The funding will be used to expand the manufacturing and research facility and drive the commercialization of their green hydrogen electrolyzer technology.
- Ignacio Bincaz has been appointed as the new CEO, bringing his extensive experience in commercialization and partnerships to lead the company's growth phase.
- Chad Mason, the company's founder, will now serve as the CTO, focusing on further developing the electrolyzer technology for industrial applications.
Advanced Ionics, a developer of green hydrogen electrolyzers, has raised $6.7 million in funding from key investors like JERA, Lummus Venture Capital, and others. This investment aims to advance the development of their water-vapor electrolyzer technology and expand the manufacturing and research facility. The company's new CEO, Ignacio Bincaz, previously the chief commercial officer, will lead the commercialization efforts, leveraging partnerships like the one with Lummus Technology. Meanwhile, founder Chad Mason transitions to the role of CTO to drive the research and development of the electrolyzer technology for industrial clients. The company aims to revolutionize the green hydrogen market by providing an affordable and efficient electrolyzer solution for decarbonization initiatives, supported by strategic funding and experienced leadership.