BP backs US developer of low-cost electrolysers

Advanced Ionics’ water vapour technology could produce green hydrogen at scale for less than $1/kg, oil major says

BP has invested in Advanced Ionics, a US-based developer of “disruptive” water vapour electrolyser technology that it says has the potential to produce green hydrogen at scale for under $1/kg. The oil and gas major led a recently closed $12.5m funding round for Milwaukee-based Advanced Ionics, alongside other investors including US-based Clean Energy Ventures, Japan’s Mitsubishi Heavy Industries, and GVP Climate. “Advanced Ionics’ technology has the potential to drive down cost and disrupt the hydrogen market” said Gareth Burns, vice-president of BP Ventures. “BP has a global portfolio of hydrogen projects, and as the world transitions to a net-zero future, it is important to us to be invest