Ayrton Energy secured USD $6.8 million in seed financing to advance its innovative liquid organic hydrogen carrier technology, aiming to enhance clean hydrogen delivery while addressing key industry challenges.

Information on the Target

Ayrton Energy is a pioneering developer specializing in liquid organic hydrogen carrier (LOHC) technology. The company has recently secured USD $6.8 million in seed financing aimed at advancing its innovative, low-cost, and scalable methods for the safe and efficient delivery of clean hydrogen. The funding round was oversubscribed and led by Clean Energy Ventures, alongside the Business Development Bank of Canada's investment arm, BDC Capital, with contributions from Antares Ventures, EPS Ventures, SOSV, the51, and UCeed Investment Funds. Ayrton Energy plans to utilize this financing to scale its proprietary technology, increase its workforce, and expand its operations into energy hubs across the United States.

Industry Overview in Canada

The clean hydrogen market is projected to have a substantial impact on reducing cumulative CO2 emissions, potentially reaching a decrease of up to 85 gigatons by 2050, with an expected annual market growth to $1.4 trillion. However, the growth of this sector is currently hindered by significant challenges, particularly related to the transportation costs and the inadequate dedicated storage infrastructure required for clean hydrogen.

To facilitate the use of clean hydrogen in industries deemed difficult to decarbonize—such as aviation and shipping—there is a pressing need for dedicated infrastructure. Traditional fossil fuels, including gasolin