Tüpraş Ventures Expands Global Footprint with Investments in Green Hydrogen Startups

Tüpraş Ventures, the venture capital arm of Tüpraş, has strengthened its green hydrogen portfolio by investing in Vancouver-based Ionomr, building on its earlier stake in California-based Verdagy. Levent Zağra, Assistant General Manager of Innovation at Tüpraş, stated: “Our Strategic Transformation Plan prioritizes low carbon and renewable energy sources. We’re confident that innovations in green hydrogen production will enhance its economic viability. Therefore, we are excited to invest in Ionomr, a company pioneering the development of specialized materials for hydrogen electrolyzer systems.”

Tüpraş Ventures, its venture capital arm, established to fund pivotal energy transformation startups, build strategic partnerships, and support the emerging ecosystem.

Tüpraş Ventures continues to invest in successful green hydrogen startups. Building on its investment in Verdagy last year, Tüpraş Ventures has now invested in Ionomr, further expanding its portfolio.

Advanced Technologies for Green Hydrogen Production

Green hydrogen is produced by splitting water through an electrolyzer using electricity generated from renewable sources. This process yields hydrogen without causing carbon emissions.
Verdagy, an electrolyzer company, stands out with its industry-leading current density, proprietary single-cell architecture and elimination of stack replacements to enable the lowest LCOH. After rapidly scaling up from the lab and proving its operational capabilities with a 2 MW electrolyzer plant, the company is now ramping its high-volume manufacturing facility and gearing up to ship 20 MW electrolyzer modules to large-scale green hydrogen plants.

Electrolyzers producing green hydrogen rely critically on specialized membranes as a key component. In addition to pioneering durable, innovative membrane and polymer technologies, Ionomr develops products for both the electrolyzer and fuel cell sectors. These recyclable products boost system efficiency through superior ionic conductivity and stability in extreme conditions.

“We strive to be early adopters of the most efficient and innovative technologies through our investments in emerging sectors”

Zağra noted: “Our Strategic Transformation Plan, initiated nearly three years ago, has directed Tüpraş’s focus toward low- and zero-emission energy sources. While advancing sustainable refining, we’re also expanding our activities and investments in key business focus areas: biofuels, zero-carbon electricity, and green hydrogen. Through Tüpraş Ventures, our venture capital arm, we are investing in future-oriented industries. Hydrogen, produced via various electrolyzers using zero-carbon electricity, will be crucial in achieving our carbon neutrality goals. Our investments in Verdagy last year and Ionomr this year underscore our commitment to be early adopters of the most efficient and innovative technologies in this field. We've long monitored global hydrogen industry startups, recognizing the potential for innovative electrolysis architectures in green hydrogen productions. We're pleased to be investor in Verdagy and lonomr and to join the international investors participating in this funding round."
 
About Tüpraş Ventures
 
Established in late 2022, Tüpraş Ventures invests, under the Tüpraş Strategic Plan, in domestic and international technology companies focusing on sustainable refining, biofuels, carbon management with a particular interest in zero-carbon electricity and green hydrogen, smart information technologies, Industry 4.0, energy efficiency, environment and recycling, and waste management.
 
Tüpraş Ventures will be investing in strategic focus points across a wide region, particularly in North America and Europe, and will present enterprises with an opportunity to test and scale their technologies by offering Tüpraş’s extensive industry experience and know-how.
 
www.tuprasventures.com
 
www.verdagy.com
Next-Gen Ion-Exchange Membranes – Ionomr Innovations Inc.