BP is supporting a green hydrogen start-up that aims to reduce the costs of the fuel.

BP is supporting a green hydrogen start-up that aims to reduce the costs of the fuel.

BP Ventures Invests in Start-Up to Drive Down Costs of Green Hydrogen

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In a steady push towards a greener and more sustainable future, BP Ventures, the venture capital arm of British energy giant BP, has invested in Advanced Ionics, a U.S.-based start-up focused on developing technology that utilizes vapour from heavy industry to significantly reduce the production costs of zero-carbon hydrogen. This comes as part of a Series A financing round worth $12.5 million, which also saw participation from Mitsubishi Heavy Industries, Clean Energy Ventures, and Gatemore Capital Management.

The Promise of Green Hydrogen

Green hydrogen, often produced through electrolysis powered by renewable energy sources, is expected to play a pivotal role in decarbonizing transportation and heavy industries. Unfortunately, its current production scale is limited and its costs remain prohibitively high, often five times more expensive than hydrogen produced from natural gas, which is highly carbon-intensive.

The Advanced Ionics Solution: Symbion Technology

The investment from BP Ventures will enable Advanced Ionics to accelerate the deployment of its innovative water vapour-based electrolysis technology, known as Symbion. The Symbion technology harnesses the waste heat emitted by industrial plants to drive the electricity used in electrolysis, reducing consumption to less than 35 kilowatt hours (kWh) per kilogram of hydrogen. In comparison, a typical electrolysis process requires over 50 kWh per kilogram.

One of the key advantages of Symbion is the significant reduction in electricity consumption during the electrolysis process. This reduction accounts for more than 70% of the total production cost of green hydrogen. By optimizing this aspect, Advanced Ionics aims to drive down the cost of green hydrogen to less than $1 per kilogram. This would make it even cheaper than most fossil fuel-based production methods.

Accelerating Deployment in Heavy Industry

With the backing of BP Ventures, Advanced Ionics is well-positioned to drive the adoption of its Symbion technology in heavy industry. The pilot program is already underway with Repsol, a Spanish oil and gas company, further proving the viability and potential of the solution.

For BP, this investment aligns with its ambitious plans to significantly reduce carbon emissions in the coming decades. By 2030, the company aims to produce between 0.5 and 0.7 million tonnes per year of primarily green hydrogen. This commitment underscores BP’s dedication to leveraging innovative technologies and sustainable practices as it navigates the energy transition.

Implications for the Energy Industry

This investment by BP Ventures paves the way for the wider adoption of green hydrogen technology in heavy industry. As one of the most carbon-intensive sectors, heavy industry has been a challenging battleground in the fight against climate change. By offering a cost-effective alternative to fossil fuel-based hydrogen production, Symbion technology presents a tangible solution that can help these industries move towards greater sustainability.

Furthermore, the reduced costs associated with green hydrogen production would also drive adoption in other sectors. The transportation industry, for instance, could greatly benefit from the availability of affordable green hydrogen, which could power fuel cell electric vehicles and drastically reduce carbon emissions from the sector.

Conclusion

The partnership between BP Ventures and Advanced Ionics marks a significant step forward in the quest for affordable and viable green hydrogen. By harnessing waste heat from heavy industry operations, Symbion technology has the potential to revolutionize green hydrogen production, driving down costs and making it economically competitive with traditional fossil fuel-based methods. As more investors and companies recognize the importance of sustainable practices, we can hope to see an accelerated shift towards cleaner and greener energy sources, creating a brighter future for the planet and future generations.

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