Ionomr Innovations announced on December 17, 2019 that it has raised additional funds to develop its breakthrough ion-exchange membranes and polymer products. The innovative products help power sources of carbon free emission vehicles and provide energy storage for renewable power generation.
The additional $3 million in seed financing will help advance the development, production and market expansion of environmentally friendly membranes and polymer products for use in advanced fuel cells, hydrogen production, batteries and renewable energy generation storage systems. The company was founded in 2017 to commercialize a major performance breakthrough from polymer research undertaken at Simon Fraser University.
“We are grateful for the support of our investors as we demonstrate incredible momentum in developing superior products for our customers,” said Bill Haberlin, chief executive officer of Ionomr Innovations. “This new funding, which was led by BC-based seed fund Pallasite Ventures, will help us move rapidly and expand our work with internationally-recognized companies and product developers in the emerging clean energy economy.”
While hydrogen fuel cells and battery technologies are expected to play a major role in the decarbonization of the world’s energy systems, cost, performance and environmental constraints have hindered their widespread implementation. Ionomr membranes and polymers will assist product developers to overcome these barriers by increasing performance and durability while eliminating the use of expensive precious metals and fluorinated compounds which can adversely affect our environment.
“The world is experiencing a significant shift to clean energies, and we are excited to encourage the next generation of sustainable technologies,” said Bruce Ralston, British Columbia Minister of Jobs, Trade and Technology. “Ionomr’s success demonstrates successful commercialization of local university research and the power of start-up innovation. It is indicative of British Columbia’s efforts to support businesses that can help protect our environment while building jobs and economic growth in the Province.”
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