Advanced Ionics, a developer of a new class of green hydrogen electrolyzers aimed at accelerating decarbonization, announced that it raised an additional $6.7 million in funding from strategic investors JERA, Lummus Venture Capital, the Argosy Foundation, and existing investors Clean Energy Venture Group and bp Ventures.
This new funding will be used to increase the development of its water-vapor electrolyzer technology and build out the company’s manufacturing and research and development facility.
Along with the new investment, Advanced Ionics’ board of directors has appointed a new chief executive officer, Ignacio Bincaz. And Ignacio has served as the company’s chief commercial officer since 2023. During this time, he played a significant role in fundraising and developing initiatives that would drive revenue growth, including a recently announced partnership with Lummus Technology. Before his role at Advanced Ionics, Ignacio served as the Head of North America for H2Pro and a Senior Vice President at Worley.
Advanced Ionics’ founder Chad Mason will now serve as the company’s chief technology officer. Mason will lead the research and development of the company’s electrolyzer technology and platform towards the first commercial products for industrial customers.
KEY QUOTES:
“The missing piece of the green hydrogen market is a next-generation electrolyzer technology like Advanced Ionics’ that can deliver affordable green hydrogen. Advanced Ionics’ solution has the potential to transform industrial decarbonization and we look forward to working with the company through its next phase of growth.”
– Takashi Ueda, General Manager at JERA
“The strategic investment from JERA, Lummus Technology, and bp Ventures underscores how we are creating a decarbonization platform purpose-built for industrial customers. As we continue to focus on the commercialization and deployment of our electrolyzer technology, the additional investment will allow us to build on our recent successes and leverage these partnerships, accelerating our path to commercialization. I’m excited to lead this fantastic team through the company’s next phase of growth.”
– Ignacio Bincaz, CEO of Advanced Ionics
“Advanced Ionics is entering its next stage of development and I’m excited to have this additional strategic funding and Ignacio’s leadership to drive our commercialization forward. We believe our technology has the potential to revolutionize this market at a time when new technology is most critical, and we’re building a world-class company to make that a reality.”
– Chad Mason, Founder and CTO
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