Power to Hydrogen (P2H2) has secured over $18m to support the development and deployment of the “world’s first” industrial-scale AEM electrolysis technology.

The Series A funding, led by Rev1 Ventures and strategic investor Worthington Enterprises, is expected to bring together leading financial and industrial investors from across the globe to pair with US and European government support to “bring the technology to market.”

Based in Ohio, P2H2 will work closely with government and industry leaders to develop its technology at scale. Anion exchange membrane (AEM) technology is anticipated to perform better and be cheaper than conventional electrolysis tech, according to P2H2 pilots.