Wedoany.com Report-Nov 16, US electrolyser start-up Ecolectro has raised $10.5 in a Series A round to accelerate the development and deployment of its AEM systems, which it claims can already produce green hydrogen for under $2.5/kg.
Seeing participation from Starshot Capital, DNX Ventures, Energy Revolution Ventures, New Climate Ventures and more, the round led by Toyota Ventures brings the start-up’s capital raise to $27.7m following on from US state and federal grants.
Founded by two Cornell PhD chemists, Ecolectro is developing a PFAS and iridium-free AEM electrolyser, which it says uses readily available, recyclable and eco-friendly materials to produce hydrogen.
Slated to offer a highly durable membrane that operates efficiently in high temperatures and alkaline conditions, the firm says it had achieved over 70% efficiency – 47.5 kWh/kg of hydrogen – in typical operating environments.
Ecolectro has already launched its first 10kW electrolyser pilot with Liberty New York Gas for a blending trial in Massena, New York to heat commercial buildings, where it claims to have produced green hydrogen for under $2.5/kg.
Following on from the trial, Liberty plans to scale up the deployment to 1MW.
“Hydrogen is key to decarbonising heavy industry and other hard-to-abate sectors, but cost-prohibitive barriers have delayed widespread adoption,” said Dr. Rodríguez-Colero, co-founder and CEO of Ecolectro.
“We’re breaking down those barriers today – not years from now.”
The Series A funds are set to be used to speed up the development of the firm’s commercial 250-500kW and 1-5MW electrolysers, with plans to begin prototype testing early next year before commercial availability in late 2025.
