In Canada, Ayrton Energy, a developer of liquid organic hydrogen carrier (LOHC) technology, secured $6.8 million in seed financing to advance its low-cost, scalable approach to efficient delivery of clean hydrogen. The round was led by Clean Energy Ventures and the Business Development Bank of Canada’s investment arm, BDC Capital, with participation from Antares Ventures, EPS Ventures, SOSV, the51, and UCeed Investment Funds. Ayrton Energy will leverage the financing to scale its proprietary technology, double the size of its team, and expand operations into energy hubs in the U.S. “The transportation and storage of clean hydrogen is a major barrier to expanding hydrogen adoption in critical sectors for decarbonization like mobility and energy,” said Daniel Goldman, Co-founder and Managing Partner at Clean Energy Ventures. “Ayrton’s solution demonstrates an innovative, scalable and cost-effective path for using hydrogen in geographies far beyond where hydrogen can be produced at very low cost. We’re eager to help this deeply technical and commercial leadership team scale their technology and enable broad expansion of the hydrogen market globally.”
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