Calgary-based Ayrton Energy, a pioneer in liquid organic hydrogen carrier (LOHC) technology, has successfully raised USD $6.8 million in seed financing. This funding will accelerate the development of its scalable, cost-effective approach to delivering clean hydrogen safely and efficiently.
The investment round was led by Clean Energy Ventures and BDC Capital, with additional support from Antares Ventures, EPS Ventures, SOSV, the51, and UCeed Investment Funds. Ayrton plans to use the funds to scale its proprietary technology, expand its workforce, and establish operations in key U.S. energy hubs.
Ayrton Energy’s LOHC system offers a solution to two significant barriers in the clean hydrogen industry: the high costs of transportation and the lack of adequate storage infrastructure. With clean hydrogen projected to reduce up to 85 gigatons of CO2 emissions by 2050 and the market forecasted to grow to $1.4 trillion annually, innovative technologies like Ayrton’s are crucial for industry growth.
Founded by mechanical engineer Natasha Kostenuk and chemist Dr. Brandy Kinkead, Ayrton’s LOHC technology allows for the storage and transport of hydrogen at room temperature, eliminating the need for cryogenic or high-pressure systems. By leveraging existing liquid fuel infrastructure, the company aims to offer a safer, more efficient solution for hydrogen delivery to hard-to-abate industries such as aviation and shipping.
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.
“Enabling the widespread production of clean hydrogen will be the backbone of an emissions-free future, and we believe our industry-agnostic solution will be a step in the right direction to democratize energy access globally,” said Natasha Kostenuk, Founder and CEO of Ayrton Energy. “We’re grateful to our amazing cohort of investors whose expertise in scaling technologies commercially will be integral as we continue to grow our customer base.”
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