Advanced Ionics, a Milwaukee, WI-based developer of a new class of green hydrogen electrolyzers aimed at accelerating decarbonization, raised $6.7M in funding.
Backers included JERA, Lummus Venture Capital, and the Argosy Foundation as well as existing investors Clean Energy Venture Group and bp Ventures.
The company intends to use the funds to increase the pace of development of its water-vapor electrolyzer technology, as well as build out its manufacturing and research and development facility.
Led by Ignacio Bincaz, CEO, Advanced Ionics has created a decarbonized hydrogen platform that allows industrial hydrogen producers and users to achieve sustainability. Its Symbion™ Electrolyzer Technology works with process and waste heat to produce the lowest cost decarbonized hydrogen.
In addition to the new investment, Advanced Ionics’ board of directors has appointed a new chief executive officer, Ignacio Bincaz.
