Green Hydrogen Startup Ecolectro Secures $10.5M to Advance Electrolyzer Technology

Nov. 19, 2024

Toyota Ventures leads Series A funding for Cornell-founded startup developing more sustainable and cost-effective hydrogen production membrane technology.

Jonathan Katz

Green hydrogen startup Ecolectro closed a $10.5 million Series A funding round, led by Toyota Ventures, to accelerate the development and deployment of the company’s anion exchange membrane (AEM) electrolyzers.

This funding brings Ecolectro’s total capital raised to $27.7 million, including grant funding from the U.S. Department of Energy under the Infrastructure Investment and Jobs Act, New York State’s Energy Research and Development Authority and the National Science Foundation.

The company has developed its AEM technology to reduce the reliance on proton exchange membrane (PEM) electrolyzers, which require iridium — an extremely rare and expensive metal that has seen prices rise by over 700% in the last decade, the company said in a Nov. 14 news release.

Additionally, PEM electrolyzers typically use per- and polyfluoroalkyl substances, or PFAS, which is under increasing regulations due to potential health risks.

These challenges are further compounded by the high costs of shipping and storing hydrogen, which can account for up to half the total delivered price, the company said.

Cornell University chemists Kristina Hugar and Gabriel Rodríguez-Calero founded Ecolectro. Their technology is a proprietary membrane chemistry that uses readily available, recyclable materials.

This membrane is highly durable, operating in high-temperature and alkaline conditions, and has demonstrated over 70% efficiency (<47.5 kWh/kg) in typical operating environments, significantly outperforming comparable PEM and alkaline systems, according to the company.

“Hydrogen is key to decarbonizing heavy industry and other hard-to-abate sectors, but cost-prohibitive barriers have delayed its widespread adoption,” said Rodríguez-Calero. “With our innovative AEM technology, we’re breaking down those barriers today—not years from now.”

This past summer, Ecolectro launched its first commercial deployment with Liberty New York Gas in Massena, New York, deploying a 10 kW electrolyzer pilot program to produce hydrogen that was blended with natural gas to heat commercial buildings.

About the Author

Jonathan Katz | Executive Editor

Jonathan Katz, executive editor, brings nearly two decades of experience as a B2B journalist to Chemical Processing magazine. He has expertise on a wide range of industrial topics. Jon previously served as the managing editor for IndustryWeek magazine and, most recently, as a freelance writer specializing in content marketing for the manufacturing sector.

His knowledge areas include industrial safety, environmental compliance/sustainability, lean manufacturing/continuous improvement, Industry 4.0/automation and many other topics of interest to the Chemical Processing audience.

When he’s not working, Jon enjoys fishing, hiking and music, including a small but growing vinyl collection.

Jon resides in the Cleveland, Ohio, area.