NGIF CLEANTECH VENTURES INVESTS IN IONOMR INNOVATIONS TO ACCELERATE THE HYDROGEN ECONOMY

CALGARY, AB (January 19th, 2022) NGIF Cleantech Ventures, a Canadian venture capital fund investing in cleantech innovation in the natural gas sector, today announced an equity investment in Ionomr Innovations.

NGIF Cleantech Ventures is joined by a world class syndicate of investors including Shell Ventures (NYSE: RDS), Chevron Technology Ventures, the venture arm of Chevron Corporation (NYSE: CVX), and Finindus, backed by ArcelorMittal (NYSE: MT).

Ionomr is developing and manufacturing breakthrough polymer and membrane technologies that can provide cost, performance, and environmental advantages for fuel cells, hydrogen production, and carbon capture utilization and storage (CCUS). Ion-exchange membranes are critical components to many electrochemical applications including hydrogen production, zero-emissions vehicles, and synthetic fuel production from CO2 capture and conversion processes.

“With their extensive experience in the development and commercialization of electrochemical devices, we are pleased to be an investment partner in Ionomr Innovations,” said John Adams, NGIF Cleantech Ventures Managing Partner. “Ionomr’s green technologies are fully recyclable and recoverable, making them crucial for the success of a clean hydrogen economy.”

Ionomr’s membranes and polymers are leading the way in the clean hydrogen economy. Their materials enable partners to take fuel cell vehicles, green hydrogen generators and CO2 conversion systems to market faster, cheaper, and with better performance.

“We are proud of what we have achieved by bringing this highly stable, efficient membrane to the hydrogen economy, and being the first to supply at sufficient scale for large industrial pilots,” said Bill Haberlin, CEO of Ionomr Innovations. “We are proud to have the support of NGIF Cleantech Ventures in accelerating the next stage of our growth.”

“Canadians want and need the affordable, reliable, clean energy service offering they have come to expect from the natural gas industry. Through investments in technology companies like Ionomr, this industry is laying the groundwork to make that service offering even better,” said Timothy M. Egan, President and CEO of the Canadian Gas Association (CGA).

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.ca

About Ionomr Innovations
Ionomr Innovations is advancing the development and manufacturing of ion-exchange membranes and polymers for the hydrogen economy. Ionomr’s Pemion® and Aemion® technologies provide cost, performance and sustainability advantages for fuel cells, hydrogen production and carbon capture and conversion. Leveraging technology developed at Simon Fraser University, Ionomr was founded in 2018, and employs 31 professionals at its research and manufacturing facilities in Vancouver, Canada.

For more information about how Ionomr is helping to advance the clean energy economy, visit www.ionomr.com.

Media Information:

Nancy McHarg
Principal
McHarg Communications
604-760-4366
nancy@mchargcommunications.com

Media and Fund Information:

John Adams
Managing Partner
NGIF Cleantech Ventures
613-748-0057
jadams@cga.ca