3M Invests In Hydrogen Electrolyzer Manufacturer EVOLOH
3M has invested in EVOLOH, a cleantech company that’s working to scale up manufacturing of its electrolyzers to make green hydrogen affordable and efficient. Electrolyzers work by using electricity to separate the atoms in water. The result is hydrogen that can be used as clean fuel or chemical reactant to replace fossil fuels in industries that are traditionally difficult to decarbonize or abate, like steel production and aviation.
The low-cost production of green hydrogen is key to the world reaching its climate goals. The investment is part of 3M’s ongoing commitment to materials science-based climate tech solutions. “3M is excited about our investment in EVOLOH and the potential collaboration opportunities between our companies,” said Mark Copman, senior vice president of 3M New Growth Ventures. “3M has the opportunity to leverage our long-standing expertise in high-volume membrane electrode assembly and shares EVOLOH’s vision to make clean and affordable hydrogen available around the world.”
EVOLOH manufactures electrolyzers with core components that do not require precious metals or rare earth materials and are made from abundant materials like steel, plastic, and aluminum. That means lower cost electrolyzer modules for users, as well as lower costs for installation and maintenance. NautilusTM stacks, the company’s patented electrolyzers, leverage advanced liquid alkaline technology to minimize costs and technical risks, while also maximizing manufacturing productivity, durability, and efficiency.
3M Ventures, the venture capital arm of 3M, recently participated in EVOLOH’s US$20 million Series A fundraising round, helping the company scale up its manufacturing abilities.
“This round of funding positions EVOLOH to lead the electrolyzer manufacturing market by transforming electrolyzer stacks into affordable, efficient hardware commodities made with 100% local supply chains,” said Dr. Jimmy Rojas, founder and chief executive officer of EVOLOH.
The investment in EVOLOH is just one of several 3M initiatives to enhance hydrogen technologies. Other examples include the development of a high-performance catalyst technology used in proton exchange membrane water electrolysis, another form of hydrogen production technology.
3M and HD Hyundai Korea Shipbuilding & Marine Engineering have signed a joint research project agreement to develop large liquid hydrogen storage tanks using 3M glass bubbles — a high-strength, low-density hollow glass microsphere.
