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The membrane developer Ionomr Innovations has raised $15 million in a series A financing round led by Shell Ventures and Finindus, a Belgian investment firm linked to the steelmaker ArcelorMittal. Ionomr was founded in 2018 based on technology from Simon Fraser University. It is developing proton- and anion-exchange membranes that can be used in fuel cells and to generate hydrogen through water electrolysis. Ionomr says one advantage of its materials is that they don’t contain precious metals.
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