3M has recently made a strategic investment in Ohmium International, a company specializing in the development of electrolyzer systems for green hydrogen production.
Mark Copman, Senior Vice President of 3M New Growth Ventures, emphasized the company’s dedication to fostering technologies that contribute to a sustainable future. Copman highlighted the potential for collaboration with Ohmium, particularly in advanced materials, which could enhance the efficiency and scalability of green hydrogen production.
Ohmium is known for its efficient Proton Exchange Membrane (PEM) electrolyzers. These systems are designed to maximize performance when paired with renewable energy sources to produce green hydrogen. This fossil-free energy source is crucial for decarbonizing hard-to-abate sectors such as steel manufacturing and fertilizer production. Ohmium’s proprietary power electronics, hyper-modular design, and standardized manufacturing approach have positioned the company as a leader in cost-competitive, efficient, and high-output green hydrogen production.
Arne Ballantine, CEO of Ohmium, expressed enthusiasm about partnering with 3M, highlighting the potential for continued innovation in catalysts and other electrolyzer materials. This collaboration underscores the strength of Ohmium’s technology and its deployment track record.
In April 2023, Ohmium secured $250 million in its Series C funding round, led by TPG Rise Climate. 3M is among the nearly 30 companies that invested in TPG Rise Climate’s first fund, joining the TPG Rise Climate Coalition. This coalition facilitates knowledge sharing, investment opportunities, and best practices in climate solutions.
The electrolyzers market is a primary segment of the growing hydrogen generation sector, driven by increased investments in green hydrogen production. Projections indicate that the global electrolyzers market will grow from $0.5 billion in 2023 to over $57 billion by 2030. Furthermore, the overall global hydrogen generation market is expected to expand by over 60%, reaching nearly $260 billion by 2028. This rapid growth presents a significant opportunity for 3M to apply its materials science expertise to support the scaling of hydrogen as a clean energy source.
