The pursuit of sustainable energy solutions is reaching new heights as BP, the renowned energy giant, invests in Advanced Ionics, a startup focused on transforming the landscape of green hydrogen production. This strategic move, driven by BP Ventures, is poised to significantly reduce the production costs of zero-carbon hydrogen by harnessing cutting-edge technology.
In a resounding affirmation of the potential of Advanced Ionics, BP Ventures has participated in a substantial $12.5 million Series A financing round, alongside notable investors such as Mitsubishi Heavy Industries, Clean Energy Ventures, and Gatemore Capital Management. This collective backing signifies the widespread recognition of Advanced Ionics’ game-changing contribution to the green hydrogen sector.
Green hydrogen, generated through the process of water electrolysis using renewable energy sources, has emerged as a pivotal player in the journey towards decarbonizing transportation and industries. While its potential is undeniable, the current production scale is limited, and its cost remains a critical challenge. The exorbitant expense of green hydrogen production, which can be up to five times higher than conventional hydrogen derived from natural gas, has been a roadblock to its widespread adoption.
The strategic investment in Advanced Ionics seeks to reshape this landscape. The startup’s groundbreaking technology, known as Symbion, holds the promise of revolutionizing green hydrogen production. At its core, Symbion utilizes vapor from heavy industry processes, leveraging the heat emitted by existing operations to drive an innovative electrolysis process. This approach is not only environmentally friendly but also economically transformative.
One of the standout features of Advanced Ionics’ technology is its unparalleled efficiency. By tapping into the heat emitted by industrial processes, Symbion drastically reduces electricity consumption for electrolysis. This reduction is a game-changer, as electricity consumption constitutes over 70% of green hydrogen production costs. With Symbion’s innovation, this cost bottleneck is surmounted, opening the path to a remarkable achievement—green hydrogen production costs of less than $1 per kilogram.
The investment from BP Ventures positions Advanced Ionics for rapid growth and implementation. The startup’s technology has already undergone a pilot program in collaboration with Spanish oil and gas company Repsol. This real-world testing validates the efficacy of Symbion and underscores its potential to revolutionize the green hydrogen sector.
In a world increasingly focused on sustainable energy solutions, BP’s investment in Advanced Ionics shines as a beacon of progress. By pioneering a technology that transforms vapor from industrial processes into affordable green hydrogen, this partnership is setting the stage for a more sustainable and economically viable energy future.