Ionomr Innovations, a developer of ion-exchange membranes and polymers for the hydrogen economy, closed a $15-million Series A funding round with lead investors Shell Ventures and Finindus, joined by Chevron Technology Ventures (CTV), NGIF Cleantech Ventures and Pallasite Ventures.
Ionomr produces materials in both proton exchange membrane (Pemion) and anion exchange membrane (Aemion) technology, with the potential to enable applications through the entire hydrogen value chain —from production of H2 gas and chemicals (through electrolysis) to efficient use of hydrogen in fuel cells.
Produced using hydrocarbon materials and a novel polymer structure, Ionomr’s polymer-based solutions avoid a range of environmental problems associated with the production, use and disposal of fluorine-containing polymers predominantly used in clean technologies today.
The funding will allow Ionomr to further scale its ion exchange membranes and polymers that are fundamental to the acceleration of the hydrogen economy.
Ionomr’s materials can make more efficient, cost-competitive solutions possible, including eliminating expensive precious metal requirements from hydrogen production and CO2 electrolysis, and supporting higher temperature recyclable fuel cell solutions.
Hans Maenhout, Finindus, Investment Director says: “From the outset, we were impressed by Ionomr’s fundamental approach to developing membranes unencumbered by traditional degradation mechanisms and with cost-efficient large-scale manufacturing in mind. The company has succeeded in turning its unique scientific insights into high performance sustainable products for use in both PEM fuel cells and electrolysers, as well as enabling AEM, a most promising novel pathway to low-cost hydrogen production.”