3M Invests in Hydrogen Electrolyzer Manufacturing Firm Evoloh

Green Energy 3M Invests in Hydrogen Electrolyzer Manufacturing Firm Evoloh

2024-04-01 Source: Press release 3M 2 min Reading Time

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Evoloh is scaling up the manufacturing of its electrolyzers to make green hydrogen affordable and efficient. The investment aims to support the development of the hydrogen economy and also transition towards clean energy.

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.(Source: Pixabay) — 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.
(Source: Pixabay)

Minnesota/USA – 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. It's another way 3M is supporting the development of the hydrogen economy and working toward a clean energy transition.

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"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.

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