Ionomr Innovations Increases Seed Financing by $3M to Secure Rapid Growth of Its Key Enabling Products for Next Generation Carbon Free Emission Vehicles and Energy StorageDecember 18, 2019
Funding accelerates commercialization of breakthrough clean energy innovation
VANCOUVER, BRITISH COLUMBIA – December 18, 2019 –Ionomr Innovations, a developer of ion-exchange membrane and polymer solutions used in power sources of carbon free emission vehicles and energy storage for renewable power generation, today announced it has raised an additional $3M in seed financing to advance the development, production and market expansion of its ion-exchange membranes and polymer products.
The company was founded in 2017 to commercialize a major performance breakthrough from polymer research undertaken at Simon Fraser University. Based on this foundation, it has pioneered and advanced the development and production of environmentally friendly membranes and polymer products for use in advanced fuel cells, hydrogen production, batteries and renewable energy generation storage systems.
“We are grateful for the support of our investors as we demonstrate incredible momentum in developing superior products for our customers,” said Bill Haberlin, Chief Executive Officer of Ionomr Innovations. “This new funding, which was led by BC-based seed fund Pallasite Ventures, will help us move rapidly and expand our work with internationally-recognized companies and product developers in the emerging clean energy economy.”
While hydrogen fuel cells and battery technologies are expected to play a major role in the decarbonization of the world’s energy systems, cost, performance and environmental constraints have hindered their widespread implementation. Ionomr membranes and polymers will assist product developers to overcome these barriers by increasing performance and durability while eliminating the use of expensive precious metals and fluorinated compounds which can adversely affect our environment.
“The world is experiencing a significant shift to clean energies, and we are excited to encourage the next generation of sustainable technologies,” said the Honourable Bruce Ralston, British Columbia Minister of Jobs, Trade and Technology. “Ionomr’s success demonstrates successful commercialization of local university research and the power of start-up innovation. It is indicative of British Columbia’s efforts to support businesses that can help protect our environment while building jobs and economic growth in the Province.”
Business Contact: Andrew Belletti | Tel: 604.628.6098 | [email protected]
Media Contact: Debby Harris | Tel: 604.980.4333 | [email protected]
About Ionomr Innovations
Ionomr Innovations is a developer and manufacturer of ion-exchange membranes and polymers for energy storage and clean energy generation applications. Ionomr technologies provide cost and sustainable performance advantages for fuel cells, hydrogen production via electrolysis, advanced batteries as well as carbon capture processes. For more information about how Ionomr is helping deliver environmental and economic sustainability, visit www.ionomr.com.