Ionomr Innovations has closed a $20m Series A-4 funding round which will further advance its hydrogen production capabilities.
The funding was secured with returning lead investors NGIF Cleantech Ventures and Pallasite Ventures supported by Shell Ventures, Chevron Technology Ventures and Finindus, joined by N.V. Bekaert, Asahi Kasei, Samsung Ventures and SAIC Capital.
Ionomr will use the funding to further scale its ion-exchange membranes and polymers, Aemion® and Pemion®. The company’s materials can produce more efficient, cost-competitive solutions, including eliminating expensive precious metal requirements from hydrogen production, carbon dioxide electrolysis and supporting higher-temperature fuel cell solutions.
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