Ecolectro raises $10.5 million for anion-exchange electrolysis

The hydrogen electrolyzer start-up Ecolectro has raised $10.5 million in a series A funding round led by Toyota Ventures. Ecolectro says it will use the funds to speed development of 500 kW and 1.5 MW electrolyzers based on anion-exchange membranes (AEM). AEM cells are unproved at scale but have the potential to cut the cost of green hydrogen—in part because they don’t require the iridium catalysts that proton-exchange membrane cells do. Earlier this year, Ecolectro started up a 10 kW pilot system in Massena, New York, that blends hydrogen into a local natural gas grid at an estimated cost of $2.50 per kilogram.