Leading provider of next-generation industrial electrolyzers that can produce hydrogen for less than USD 1/kg Advanced Ionics announced the closing of its initial financing of USD 4.2 million led by Clean Energy Ventures, a venture capital firm funding early-stage climate tech innovations, with participation from SWAN Impact Network. By requiring significantly less electricity than other electrolyzers, Advanced Ionics uses low-cost renewables or nuclear energy to produce green hydrogen for less than the current cost of fossil fuel-derived hydrogen. With the funding, Advanced Ionics will accelerate its product development roadmap and scale-up, and implement pilot projects with customers. Advanced Ionics is focused on tackling decarbonization of heavy industry, one of the most carbon-intensive sectors responsible for 20% of greenhouse gas emissions. From ammonia and other energy intensive chemicals, to steel and machinery, to dirty fuels and oil refining, Advanced Ionics provides a highly sustainable, low-cost alternative amid the need to reduce reliance on natural gas for climate and geopolitical reasons in key markets such as Europe. Advanced Ionics SymbioticTM Electrolyzer Technology reduces costs by integrating with industrial facilities and pre-existing industrial processes. Power-intensive alkaline and membrane-based electrolyzers require high electricity usage typically above 50 kWh/kg. Advanced Ionics’ electrolyzers work with onsite waste and process heat supplies, reducing up to 40% of the typical electricity requirement, the dominant cost driver of green hydrogen production.