Milwaukee-based Advanced Ionics Participates in Spanish Business Accelerator

Milwaukee startup Advanced Ionics, a company focused on fighting the decarbonization of heavy industry, was selected from a pool of 420 companies to participate in the Fondo de Emprendedores accelerator. The accelerator is…


Starting Milwaukee advanced ionic, a company focused on fighting the decarbonization of heavy industry, was selected from a group of 420 companies to participate in the Fondo de Emprendedores accelerator. The accelerator is hosted annually by Repsol through the Madrid company’s entrepreneurship fund. Repsol is a Spanish multinational energy and petrochemical company. The Fondo de Emprendedores accelerator focuses on startups that offer innovative solutions for the energy transition linked to natural solutions for the reduction of the carbon footprint, low-emission technologies, the circular economy and the digitization of the environment. energy industry. Each of the five selected companies will receive financial support of 100,000 euros for one year and high-level technical and commercial advice from a team of expert mentors. Once the program is completed, it is possible to develop pilot tests with Repsol. The other four companies participating in the accelerator are Solatom of Valencia, Spain; Nuspec Oil of York, UK; Jungle AI from Lisbon, Portugal; and GeForest from Castilla-La Mancha, Spain. Advanced Ionics’ symbiotic electrolyser technology uses low-cost renewable or nuclear energy to produce green hydrogen at a price below the current cost of hydrogen derived from fossil fuels. The company’s technology reduces costs by integrating with pre-existing industrial facilities and industrial processes. Power-intensive membrane and alkaline electrolysers require high electricity consumption, typically in excess of 50 kilowatt hours per kilogram. Advanced Ionics’ electrolysers run on site waste and process the heat supply, reducing typical electricity needs by up to 40%, the primary cost driver of green hydrogen production. The company closed a $4.2 million seed round this spring. The founder and CEO of Advanced Ionics is Chad Mason.