Participated · Equity · Jan 2025

Advanced Ionics is a Milwaukee, WI-based developer of a new class of green hydrogen electrolyzers aimed at accelerating decarbonization. Its core product, the Symbion™ Electrolyzer Technology, works with process and waste heat and water-vapor electrolysis to produce lower-cost decarbonized hydrogen. The company says the platform enables industrial hydrogen producers and users to achieve greater sustainability. Advanced Ionics intends to use the $6.7M funding to accelerate development of its water-vapor electrolyzer technology and to build out manufacturing and research and development facilities. The funding round brought in new backers JERA, Lummus Venture Capital and the Argosy Foundation alongside existing investors Clean Energy Venture Group and bp Ventures. The board has appointed Ignacio Bincaz as chief executive officer to lead the next phase of development. Advanced Ionics develops electrolyzers that operate in the 200°C–600°C range to produce hydrogen for industrial feedstocks such as ammonia, petrochemicals, steel and glass. By targeting mid-range temperatures, the company avoids exotic materials and reduces both electricity and steam-generation energy compared with low- and very-high-temperature designs. Its electrolyzer can produce 1 kg of hydrogen with about 35 kWh of electricity, materially below today’s commercial electrolyzers that require just over 50 kWh per kg. The approach is intended to match heat profiles already present at many industrial sites, lowering integration costs. Advanced Ionics is running pilot projects that cover equipment and manufacturing, and plans to expand its team as it scales. The company is based in Milwaukee and was part of TechCrunch’s 2022 Startup Battlefield 200, where it became a finalist. Advanced Ionics develops SymbioticTM Electrolyzer Technology that integrates with industrial facilities and pre-existing processes to produce low-cost green hydrogen. Its electrolyzers leverage process and waste heat to reduce electricity usage by up to 40% versus power-intensive alkaline and membrane systems, enabling hydrogen production for less than $1/kg in many industrial locations. The company targets decarbonization of heavy industry—including ammonia and other energy‑intensive chemicals, steel and machinery, and oil refining—reducing reliance on natural gas. Advanced Ionics is headquartered in Milwaukee and is based in the U.S. Midwest, near manufacturing and industrial customers. With the new financing, the company plans to accelerate its product development roadmap, scale-up, and implement pilot and demonstration projects over the next year. Longer-term plans include deploying larger-scale projects and building a large-scale electrolyzer manufacturing facility to serve markets such as Europe and North America.

Participated · Seed · Jul 2024

3Daughters is a Mansfield, MA–based clinical development company focused on evolutionary healthcare for women. Its technology platform uses physics and geometry to deliver targeted therapy to the uterus. The company's lead product, 3D-001, is a frameless, magnetic, non-hormonal intrauterine device (IUD) designed to conform to a woman's body for long-acting contraception. 3D-001 is paired with a patented Slider™ system for insertion and retrieval that aims to eliminate insertion steps and the nuisance of strings. 3Daughters plans an IND filing in early 2025 and expects to start a first-in-human Phase 1 study following IND approval. Financially, the company closed a $4.7M Seed round and has launched a $15M Series A to fund 3D-001's Phase 1 study. 3Daughters, based in Mansfield, MA and led by CEO Mary Beth Cicero, is developing women's healthcare technologies. Its lead product, 3D-001, is a frameless, magnetic, nonhormonal intrauterine device for long-acting contraception. 3D-001 is designed to conform to a woman's body and pairs with the company's patented Slider™ insertion/retrieval system intended for easier and less painful insertion and removal. The company emphasizes addressing longstanding, neglected issues such as IUD insertion pain. 3Daughters closed over $2M in a first tranche of Seed financing to advance its development plans. It intends to use the funds to complete an IND filing and initiate a Phase 1 clinical trial this year.