Ionomr Innovations closes Series A-4 financing
by CM Staff
The funding will allow Ionomr to further scale its ion-exchange membranes and polymers, Aemion® and Pemion®, that are useful to accelerating the hydrogen economy.
Ionomr Innovations’ ion-exchange membranes are manufactured at scale to support wide ranging industrial applications, advancing the green hydrogen economy. (CNW Group/Ionomr Innovations Inc.)
VANCOUVER and ROCHESTER — Ionomr Innovations Inc., developer and manufacturer of polymer and membrane technologies for hydrogen applications, has closed a US$20 million Series A-4 funding round with returning lead investors NGIF Cleantech Ventures and Pallasite Ventures supported by Shell Ventures, Chevron Technology Ventures and Finindus, and joined by N.V. Bekaert, Asahi Kasei, Samsung Ventures and SAIC Capital.
“We are delighted to receive the financial support of industry players that represent the full spectrum of the hydrogen ecosystem,” said Bill Haberlin, CEO of Ionomr Innovations. “The participation of leaders across our industry underscores that Ionomr is delivering proven competitive advantages to our customers and their system users. It reinforces that Ionomr’s Aemion® is a viable solution for improving the economics in the hydrogen economy and that Ionomr’s Pemion® enables higher-temperature operation, essential for fuel cells in next-generation heavy-duty transportation to succeed, while eliminating toxic ‘forever chemicals’.”
Green hydrogen production, hydrogen fuel cells and efficient carbon utilization are critical to reducing emissions in hard-to-decarbonize heavy industries such as steel making, chemical production, long-term seasonal energy storage, heavy-duty transport, aviation and shipping.
The funding will allow Ionomr to further scale its ion-exchange membranes and polymers, Aemion® and Pemion®, that are useful to accelerating the hydrogen economy — from production of H2 gas and chemicals through electrolysis to efficient use of hydrogen in fuel cells.
