CALGARY, AB (December 15, 2021) NGIF Cleantech Ventures, a Canadian venture capital fund investing in cleantech innovation in the natural gas sector, today announced an equity investment in Ionada PLC (Ionada).
The funding builds on an exciting year for Ionada, which was selected in July to be part of Halliburton Company’s (NYSE: HAL) clean energy accelerator, Halliburton Labs.
Ionada’s membrane technology is specifically tailored for carbon capture applications in the marine and power generation industries. Ionada’s membrane CO2 contactors can remove up to 99% of the carbon dioxide from flue gas. Ionada’s key innovation is the use of patented membrane contactors to replace a conventional spray tower and absorbers.
The result is a 30% increase in efficiency and a 50% reduction in absorber size. In addition, the absorber can operate horizontally instead of vertically, providing improved flexibility and modularity. Ionada also leverages membrane degassing to strip CO2 from the absorbents, increasing efficiency and decreasing the size of the stripper unit.
“We were impressed by Ionada’s containerized modular system that can be easily retrofitted on small to mid-size carbon emitters. Not only will their technology help remove CO2 from the gas industry emissions, but the captured gases will provide feedstock for value-added products,” said John Adams, NGIF Cleantech Ventures Managing Partner. “NGIF Cleantech Ventures was created by and for Canada’s gas industry to advance the lowest cost and lowest emission gas molecule and create returns for our investors. With its carbon capture solution, Ionada is well-positioned to do both.”
“This important investment from NGIF Cleantech Ventures is a key step to commercializing our technology,” said Edoardo Panziera, CEO of Ionada. “It has been our pleasure to partner with John and the NGIF team over the last few years as they help us scale. We look forward to this next phase of growth as we move forward together.”
“It is exciting to see another cleantech startup join NGIF Cleantech Ventures to support emissions reductions for the benefit of the entire gas sector,” said Timothy M. Egan, President and CEO of the Canadian Gas Association (CGA). “The investments made in clean technology today will support the gas industry of the future and ensure the continued availability of the energy Canadians require for their daily lives.”
About NGIF Cleantech Ventures
NGIF Cleantech Ventures is a $50 million industry-led venture capital fund that makes equity investments in early-stage startups. The objective of the Fund is to grow cutting-edge clean technology companies into commercial-scale enterprises. The Fund primarily invests in companies that provide solutions that lead to emissions reductions and other environmental benefits. These solutions are typically focused on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as increased production of renewable natural gas and hydrogen.
For more information, please visit ngif.com
Ionada is a Canadian technology company that develops, manufactures, and markets carbon capture systems to combat global warming. With the support of industry leaders such as NGIF and CGA, Ionada’s technology will keep our air and waters clean for future generations. Ionada’s global team includes scientists, engineers, and technicians that have developed breakthroughs in emission reduction technologies. Our vision is to be a technology leader delivering innovative sustainable CO2 mitigation solutions to reduce harm to our environment. Ionada’s mission is disruptive sustainability – providing emission abatement that keeps our air and waters clean and provides a financial benefit to our clients.
For more information, please visit ionada.com.
NGIF Cleantech Ventures
NGIF Cleantech Ventures