The investment has been executed through Mitsubishi Heavy Industries America (MHIA), which joins a consortium of investors, including bp. Ventures (bp), Clean Energy Ventures (CEV) and others.

Advanced Ionics is developing a water vapour electrolyser that utilizes low-temperature water vapour (from 100degC) to produce hydrogen with more than 30% less power consumption than typical water electrolysers. Since the low-temperature water vapor used can be produced using available industrial heat, it is expected to be used as a highly efficient, locally produced, and locally consumed decarbonisation solution in steel, ammonia production, oil refineries, and other plants that have available industrial heat and use hydrogen. It also has the potential for future application in highly efficient hydrogen production using heat and power from nuclear, geothermal and solar thermal power plants.

Mitsubishi Heavy Industries Group is committed to building a business that contributes to realising a decarbonised society while investing in and collaborating with various partners with innovative technologies. This investment will help Advanced Ionics to accelerate the demonstration for commercialisation and accelerate the development of future innovative alternative technologies that will lead to the diversification of the hydrogen value chain. Going forward, MHI will continue to enhance and diversify its solutions portfolio, providing its customers with alternative decarbonisation technologies to reach their net zero goals.