Ayrton Energy, a Calgary, Alberta, Canada-based developer of liquid organic hydrogen carrier (LOHC) technology, secured USD $6.8m in seed financing.
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, EPSVentures, SOSV, the51, and UCeed Investment Funds.
The company intends to use the funds to scale its proprietary technology, double the size of its team, and expand operations into energy hubs in the U.S.
Founded by mechanical engineer Natasha Kostenuk and chemist Dr. Brandy Kinkead, Ayrton is developing a low temperature and low pressure LOHC hydrogen storage system to enable clean hydrogen at lower cost and higher safety than any storage solution on the market today. Its energy-efficient solution allows for stable, long-term storage and transportation of hydrogen at room temperature using existing liquid fuel infrastructure.
Ayrton is already deploying a pilot program in Alberta, Canada, with ATCO Gas. ATCO is the largest natural gas utility in the province and a leader in the hydrogen space in North America. The partnership will enhance Ayrton’s ability to produce tens of tons of hydrogen annually and explore the potential for integration with technologies like fuel cells and other energy systems.
FinSMEs
24/09/2024