Scaling electrolyzer manufacturing supports the hydrogen
economy and helps move the planet towards a clean energy
transition
ST.
PAUL, Minn., March 26,
2024 /PRNewswire/ -- 3M
(NYSE: MMM) 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. It's
another way 3M is supporting the
development of the hydrogen economy and working toward a clean
energy transition.
"3M is excited about our
investment in EVOLOH and the potential collaboration opportunities
between our companies," said Mark
Copman, senior vice president, 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. 3M's investment in EVOLOH fits well
with the work 3M is doing to help
support the hydrogen economy and move the planet toward a clean
energy transition."
EVOLOH takes an innovative approach to manufacturing
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.
3M Ventures, the venture capital arm of 3M, recently
participated in EVOLOH's $20
million Series A fundraising round, which will help 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 CEO 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. Also,
3M and HD Hyundai Korea Shipbuilding & Marine Engineering
(KSOE) 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.
Learn more about 3M solutions in the hydrogen
economy
About 3M
3M (NYSE: MMM) believes science helps create a brighter
world for everyone. By unlocking the power of people, ideas
and science to reimagine what's possible, our global team uniquely
addresses the opportunities and challenges of our customers,
communities, and planet. Learn how we're working to improve
lives and make what's next at 3M.com/news.
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SOURCE 3M Company
