![[Funding news] NYC-based Ecolectro has Secured $10.5Million in Series A Round Funding](https://startuprise.io/wp-content/uploads/2024/11/NYC-based-Ecolectro-has-Secured-10.5Million-in-Series-A-Round-Funding.webp)
Ecolectro, a green hydrogen tech company, has raised $10.5 million in Series A funding, led by Toyota Ventures and joined by Starshot Capital, DNX Ventures, Energy Revolution Ventures, New Climate Ventures, Banco Popular Impact Fund, Techstars, and others.
Under CEO Dr. Rodríguez-Calero, it has developed affordable electrolyzer technology that lowers production and maintenance costs, making green hydrogen more accessible for various industries.
Read also – [Funding news] NC-based mPATH Secures $3Million in Funding
In collaboration with Liberty New York Gas, it is already supplying green hydrogen for New York State’s first project that blends it with natural gas for commercial heating.
The company plans to use the funds to speed up the development of its 250-500 kW and 1-5 MW Anion Exchange Membrane (AEM) electrolyzers. Prototype testing with industry partners will start early next year, with commercial units expected by late 2025.
These electrolyzers are ideal for industries like chemical refining, transportation, steel, and aviation, offering a practical way to cut carbon emissions using green hydrogen.
About Ecolectro
Ecolectro’s AEM technology is transforming green hydrogen production by enabling affordable and sustainable hydrogen without costly materials like iridium or harmful PFAS chemicals.
