Ayrton Energy, the Calgary-based provider of liquid organic hydrogen carrier storage technology, is preparing to launching a second seed round and plans a $30m Series A next year, CEO Natasha Kostenuk told ReSource.
Ayrton, with 10 employees, allows hydrogen to be transported as a liquid at room temperature, Kostenuk said. The liquid can also be transported in existing infrastructure while mitigating pipeline corrosion.
The company’s target customers are hydrogen producers, utilities and hub-and-spoke logistical servicers.
To date Ayrton has raised $5m from venture capital and a similar amount will come from the next seed round, Kostenuk said. A 30 kg per day pilot project with a gas utility in Canada is underway and Ayrton will look to 10x that next year, she said, with eyes on 3 metric tonnes per day commercialization.
“It scales like electrolyzers,” she said of the technology. “We can get very large, very easily.”
Ayrton is now engaging investors and potential advisors, Kostenuk said. “It would be good to engage with us now.”
