Lummus Technology Invests in Milwaukee Startup for Green Hydrogen Electrolyzer
Key Ideas
- Advanced Ionics, a Milwaukee-based startup, received an undisclosed investment from Lummus Technology in Houston for their green hydrogen electrolyzer.
- Lummus Technology now holds a stake in the startup as a result of the investment.
- Both companies will collaborate to accelerate the commercialization process of Advanced Ionics’ hydrogen electrolyzer.
- This partnership aims to leverage Lummus Technology's global licensing expertise for the advancement of green hydrogen technology.
Milwaukee-based startup, Advanced Ionics, recently announced a significant investment from Houston's Lummus Technology to support the development of their green hydrogen electrolyzer. This investment has resulted in Lummus Technology acquiring a stake in Advanced Ionics. The collaboration between the two companies is geared towards expediting the commercialization of Advanced Ionics’ innovative hydrogen electrolyzer technology. With Lummus Technology being a global licensor in the energy technology sector, this partnership is expected to leverage their expertise and network to propel the advancement of green hydrogen technology. The undisclosed investment signifies a vote of confidence in Advanced Ionics and underscores the growing interest and investment in the hydrogen sector. This strategic alliance highlights the importance of collaboration between established energy technology firms and innovative startups in driving sustainable solutions for the future.