Ecolectro Revolutionizes Green Hydrogen Production with Series A Funding
Key Ideas
- Ecolectro, a US electrolyser start-up, secures $10.5 million in Series A funding to enhance the development and deployment of its eco-friendly AEM systems.
- The company's PFAS and iridium-free AEM electrolyser achieves over 70% efficiency, producing green hydrogen for under $2.5/kg, leading to plans for commercialization by late 2025.
- Ecolectro collaborates with Liberty New York Gas for a blending trial in Massena, New York, aiming to scale up from a 10kW pilot to a 1MW deployment for heating commercial buildings with green hydrogen.
- The Series A funds will accelerate the production of commercial electrolysers ranging from 250kW to 5MW, with prototype testing commencing early next year to revolutionize hydrogen production efficiency.
US-based electrolyser start-up, Ecolectro, has successfully raised $10.5 million in a Series A funding round to advance the development and deployment of its Advanced Electrolyzer Membrane (AEM) systems. Ecolectro's AEM technology claims to produce green hydrogen for less than $2.5/kg, attracting investments from various entities including Starshot Capital, DNX Ventures, and Toyota Ventures.
Led by Toyota Ventures, the funding round totals $27.7 million, including previous grants from US state and federal sources. Founded by two Cornell PhD chemists, Ecolectro focuses on developing a PFAS and iridium-free AEM electrolyser that operates efficiently in high temperatures and alkaline conditions, boasting over 70% efficiency in hydrogen production.
The start-up has initiated a pilot project with Liberty New York Gas in Massena, New York, utilizing a 10kW electrolyser for a blending trial to heat commercial buildings with green hydrogen. Following successful outcomes, Liberty plans to scale up deployment to 1MW, demonstrating the practical application of Ecolectro's technology.
CEO of Ecolectro, Dr. Rodríguez-Colero, emphasizes the vital role of hydrogen in decarbonizing challenging sectors and expresses confidence in overcoming cost barriers. The Series A funding will expedite the development of commercial electrolysers ranging from 250kW to 5MW, with prototype testing scheduled for early next year and commercial availability expected by late 2025.
Additionally, the article discusses key strategies to prevent electrolyser degradation, highlighting the importance of optimizing design, system control, water quality management, material selection, and operational efficiency. Implementing these measures can enhance the longevity and performance of electrolysers, ensuring sustained high efficiency and operational lifespan.
Topics
Middle East
Clean Energy
Technology
Innovation
Investment
Decarbonisation
Commercialization
Startup
Series A
Latest News