Asahi Kasei invests in Canadian manufacturer of anion exchange membranes

Rhea-AI Summary

Asahi Kasei (AHKSY) invests in Canadian startup Ionomr Innovations, specializing in anion exchange membrane (AEM) for green hydrogen production. Asahi Kasei's investment aims to leverage Ionomr's transformative membrane technology for cost-efficient and scalable green hydrogen production, aligning with Asahi Kasei's 'Care for Earth' investment framework.

NEW YORK & TOKYO & DUSSELDORF, Germany--(BUSINESS WIRE)-- Japanese diversified global manufacturer Asahi Kasei has made an investment in Ionomr Innovations Inc., a Canadian startup that manufactures anion exchange membrane (AEM). Ionomr’s high-performance, durable, next-generation membrane has the potential to be transformative for the cost-efficient and scalable production of green hydrogen by electrolysis using renewable energy.

Ionomr’s Aemion+™ anion exchange membrane products. (Photo: Business Wire)

Countries around the world consider the large-scale production of green hydrogen as a key to achieving a zero-emission society in the coming decades. As a one-stop solution provider of scalable alkaline-water electrolyzers and other components for hydrogen production, Asahi Kasei is taking an important step forward in its hydrogen business by investing in Canadian startup Ionomr Innovations. Founded in 2018, Ionomr specializes in the development and sale of next-generation membranes for use in electrolyzers and other applications. Ionomr’s anion exchange membrane (AEM) allows electrolysis without the need for precious metals as catalyst, allowing for easy scalability with reduced costs, while featuring outstanding durability and performance.

Sharing expertise and contributing to the next-generation membrane

In 2010, Asahi Kasei began developing an alkaline water electrolyzer for hydrogen production leveraging its decades of experience in membrane-process electrolysis, and has been participating in several projects globally. As part of a NEDO project,¹ Asahi Kasei supplied a 10 MW-scale alkaline water electrolyzer to the Fukushima Hydrogen Energy Research Field (FH2R)² and has been operating it since 2020. The company is accelerating its development and demonstration activities toward commercialization in 2025.

By sharing its unmatched expertise in the field of membrane technology with Ionomr, Asahi Kasei expects to help further raise the performance of Ionomr’s AEM products. “This investment enables us to team up with a leading expert for a membrane technology that could be a game changer for the production of green hydrogen in terms of cost-effectiveness and scalability. At the same time, we can share our long-term expertise in manufacturing and operating large-scale electrolyzers,” says Masami Takenaka, Lead Executive Officer of Asahi Kasei and Senior General Manager of Corporate Research & Development.

“We are delighted to welcome Asahi Kasei as a financial partner,” said Bill Haberlin, CEO of Ionomr Innovations. “The support and endorsement of a lead electrolyser manufacturer underscores the potential of our Aemion® materials and for AEM as a viable solution for significant cost reduction in the hydrogen economy. Ionomr has a membrane solution that works, is a viable contender in the mix of electrolyzer technologies and will be cost-effective. We look forward to working with Asahi Kasei to decarbonize the planet with green hydrogen.”

One of the first projects within the “Care for Earth” investment framework

The collaboration with Ionomr is one of the first projects within Asahi Kasei’s “Care for Earth” investment framework, which was announced in April 2023. The company allocated up to $100 million for investments worldwide in early-stage startups that aim to solve issues in environmental fields such as hydrogen, energy storage, carbon management, and bio-based chemicals over the 5-year period up to fiscal 2027. As described in its medium-term management plan in April 2022, hydrogen-related business is one of Asahi Kasei’s “10 Growth Gears” (GG10), businesses that are to drive future growth, targeting more than 70% of operating income around 2030.

About Ionomr Innovations

Ionomr Innovations is revolutionizing electrochemistry with newly developed ion-exchange membranes and polymers for clean energy. Ionomr's Pemion® and Aemion® technologies provide cost, performance and sustainability advantages for fuel cells, hydrogen production and carbon capture, as well as use and conversion. Ionomr was founded in 2018 and employs 51 professionals in Vancouver, Canada and Rochester, U.S.A. For more information, visit: https://www.ionomr.com/

About Asahi Kasei

The Asahi Kasei Group contributes to life and living for people around the world. Since its founding in 1922 with ammonia and cellulose fiber businesses, Asahi Kasei has consistently grown through the proactive transformation of its business portfolio to meet the evolving needs of every age. With more than 48,000 employees worldwide, the company contributes to a sustainable society by providing solutions to the world's challenges through its three business sectors of Material, Homes, and Health Care. Its Material sector, comprised of Environmental Solutions, Mobility & Industrial, and Life Innovation, includes a wide array of products from battery separators and biodegradable textiles to engineering plastics and sound solutions. For more information, visit https://www.asahi-kasei.com/.

Asahi Kasei is also dedicated to sustainability initiatives and is contributing to reaching a carbon-neutral society by 2050. To learn more, visit https://www.asahi-kasei.com/sustainability/.

¹ NEDO project name: “Hydrogen social construction technical development project/Hydrogen energy system technical development/Technical development concerning business model construction and the large-scale actual proof of a re-energy use hydrogen system”
² FH2R is a project commissioned by the New Energy and Industrial Technology Development Organization (NEDO).

View source version on businesswire.com: https://www.businesswire.com/news/home/20231206219655/en/

North America Contact:

Asahi Kasei America Inc.

Christian Okeefe

christian.okeefe@ak-america.com

Europe Contact:

Asahi Kasei Europe GmbH

Sebastian Schmidt

sebastian.schmidt@asahi-kasei.eu

Source: Asahi Kasei

FAQ

What is the investment made by Asahi Kasei in Ionomr Innovations?

Asahi Kasei has made an investment in Ionomr Innovations, a Canadian startup specializing in anion exchange membrane (AEM) for green hydrogen production.

What is Ionomr Innovations' specialization?

Ionomr Innovations specializes in the development and sale of next-generation membranes for use in electrolyzers and other applications.

What is the significance of Ionomr's anion exchange membrane (AEM)?

Ionomr's AEM allows electrolysis without the need for precious metals as a catalyst, enabling easy scalability with reduced costs, and features outstanding durability and performance.

What is the objective of Asahi Kasei's 'Care for Earth' investment framework?

Asahi Kasei's 'Care for Earth' investment framework aims to allocate up to $100 million for investments worldwide in early-stage startups that aim to solve issues in environmental fields such as hydrogen, energy storage, carbon management, and bio-based chemicals over the 5-year period up to fiscal 2027.

What is Asahi Kasei's '10 Growth Gears' (GG10)?

Hydrogen-related business is one of Asahi Kasei's '10 Growth Gears' (GG10), businesses that are to drive future growth, targeting more than 70% of operating income around 2030.