ITHACA, NY, Ecolectro, an emerging leader in green hydrogen technology, today announced the successful close of its $10.5 million Series A funding round.
The round was led by Toyota Ventures with participation from Starshot Capital, DNX Ventures, Energy Revolution Ventures, New Climate Ventures, Banco Popular Impact Fund, and Techstars, among others. This funding brings Ecolectro’s total capital raised to $27.7M, 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 (NYSERDA), and the National Science Foundation. These funds will be used to accelerate the development and deployment of Ecolectro’s groundbreaking Anion Exchange Membrane (AEM) electrolyzers, offering an affordable and scalable path to reducing carbon emissions through true green hydrogen.
Ecolectro is revolutionizing the green hydrogen landscape with affordable, scalable electrolyzer technology. By eliminating the need for precious metals like iridium and PFAS, and utilizing readily available, recyclable and eco-friendly materials, Ecolectro’s AEM electrolyzers significantly reduce production and maintenance costs, making green hydrogen more accessible across industries. The company’s mission is to accelerate global decarbonization by providing customers with practical, cost-effective green hydrogen solutions.
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By VC News Daily
Source: VC News Daily