Congratulations to the Ecolectro team on closing their Series A round. Ecolectro continues to shape the green hydrogen industry with their AEM technology, making affordable green hydrogen a reality. Check out their full story below. Congrats again!
We’re one step closer to our goal of making green hydrogen a practical, affordable solution for industries worldwide with the close of our $10 million Series A round led by Toyota Ventures. We're solving the industry’s biggest problem: green hydrogen is still too expensive, mainly because of the materials and logistics involved. Our AEM technology, developed by my brilliant co-founder Kristina Hugar, changes that. By using safe, abundant materials and eliminating the need for expensive rare metals, we can produce hydrogen at less than $2.50 per kilogram. Affordable green hydrogen is officially here. This funding will help us expand into key industries like steel, aviation, and trucking, and scale our successful pilot with Liberty in New York. Many thanks to the entire Ecolectro team for the hard work building the electrolyzers of the future! Get the full story from Tim De Chant via TechCrunch: https://lnkd.in/esqPMK_H?