In an effort to expand into emerging climate technologies, U.S. conglomerate 3M has completed a strategic investment in Ohmium International, a developer of electrolyzer systems for green hydrogen production.
3M said the investment aligns with the company’s strategic growth platform in climate tech and the vision to leverage its technological expertise in material science in support of the U.S. Department of Energy’s (DOEs) Hydrogen Energy Earthshot initiative and the industry goal of reducing the cost of green hydrogen production to $1 per kilogram.
Mark Copman, Senior Vice President of 3M New Growth Ventures, commented: “We see significant potential for collaboration in areas such as advanced materials, which can further enhance the efficiency and scalability of green hydrogen production.”
Arne Ballantine, Ohmium’s CEO, stated: “We’re very pleased to partner with an industry leader like 3M and look forward to collaborating with them on continued innovation in catalysts and other electrolyzer materials.”
Ohmium is known for its proton exchange membrane (PEM) electrolyzers, designed to optimize PEM’s performance in pairing with renewables to produce green hydrogen, a fossil-free energy source critical for decarbonizing hard-to-abate industrial sectors.
The company has just launched its new gigafactory in Doddaballapura, just outside of Bengaluru, India. The facility is said to be Ohmium’s first to bring together manufacturing, assembly, quality assurance, testing, warehouse and shipping facilities under one roof. It is ramping up to ship 2 gigawatts (GW) of fully assembled and tested electrolyzer systems to meet the demands of Ohmium’s global project pipeline.
Ballantine noted: “The ribbon cutting at our new gigafactory marks a major milestone for Ohmium and enables us to deliver green hydrogen solutions to our growing pipeline of customers across India and around the world. 2GW of electrolyzers can abate four million tons of CO2 per year – equivalent to the CO2 captured by 180 million trees. And for us it’s just the beginning.”
To remind, in May 2024, Ohmium was selected to equip what is said to be the first green hydrogen project in Croatia. Specifically, Ohmium will serve as the PEM electrolyzer supplier for IVICOM, a Croatian engineering and construction company, on a project to build a 10 MW green hydrogen plant at the INA Rijeka Refinery.