Ayrton Energy Raises $9.1M CAD to Scale Clean Hydrogen Solutions Across the US

Ayrton Energy, a cleantech startup based in Calgary, has raised $9.1 million CAD ($6.7 million USD) in seed funding to support the U.S. expansion of its cutting-edge hydrogen storage solution. This significant funding round was led by Clean Energy Ventures, a Boston-based venture capital firm, and BDC Capital, the investment arm of Canada’s Business Development Bank of Canada (BDC). The round also saw participation from prominent investors, including Antares Ventures, EPS Ventures, SOSV, The51, and the University of Calgary’s UCeed Investment Funds, all of whom are committed to advancing clean energy technologies.

Ayrton Energy is pioneering a novel hydrogen storage system that operates at both low temperatures and low pressure. This system stores hydrogen in an organic liquid, making it a safer and more cost-effective alternative to traditional hydrogen storage solutions. The system's ability to handle hydrogen similarly to gasoline eliminates the need for the specialized high-pressure containers or extreme cold storage typically required for hydrogen, thereby simplifying its transport and storage. These advantages make Ayrton's solution a promising development in the clean hydrogen space, where reducing costs and increasing efficiency are key to broader adoption.

Hydrogen has long been hailed as a critical component of the clean energy transition, but its widespread use has been hindered by the challenges associated with storage and transportation. Unlike fossil fuels, which can be transported through well-established pipelines, railcars, and tankers, hydrogen requires complex and costly infrastructure due to its volatile nature. Ayrton Energy aims to address these pain points by offering a storage system that significantly reduces the costs and complications of hydrogen transport and storage, potentially unlocking hydrogen's full potential as a clean fuel source.

According to a 2023 report from Deloitte, clean hydrogen is expected to play a vital role in reducing global carbon emissions, with the potential to cut up to 85 gigatons of CO₂ emissions by 2050. The development of efficient hydrogen storage and transportation solutions is crucial to realizing this vision. Ayrton’s innovative approach could be a game changer, particularly in making clean hydrogen more accessible to a wide range of industries and regions. The company believes its industry-agnostic solution can democratize energy access globally, bringing the benefits of clean hydrogen to more markets and contributing to an emissions-free future.

Ayrton Energy’s founder and CEO, Natasha Kostenuk, expressed excitement about the potential of their hydrogen storage technology to drive global energy transformation. In a statement, she emphasized the importance of enabling widespread production and use of clean hydrogen, describing Ayrton’s solution as a pivotal step toward creating a more equitable and sustainable energy landscape. Kostenuk also highlighted the strong support from the company’s investors, whose expertise in scaling clean technologies will be critical as Ayrton expands its customer base and strengthens its presence in the U.S. market.

Founded in 2021, Ayrton Energy was established by Kostenuk, a mechanical engineer with a background in renewable energy, and Brandy Kinkead, Ayrton’s chief technology officer, who holds a PhD in chemistry from Simon Fraser University. Together, they bring a combination of technical expertise and visionary leadership to the startup, positioning Ayrton to make a substantial impact in the global energy sector. The seed funding will allow the company to accelerate its technology development, expand into new markets, and continue refining its hydrogen storage solution to meet the growing demand for clean energy.

As the world shifts toward a low-carbon future, hydrogen is seen as a key player in decarbonizing industries such as transportation, power generation, and manufacturing. However, for hydrogen to become a mainstream energy source, innovations like those developed by Ayrton Energy are necessary to overcome the current limitations in infrastructure and cost. With its unique approach to hydrogen storage, Ayrton is not only solving immediate technical challenges but also laying the groundwork for a broader, long-term transformation in how energy is produced, stored, and distributed.

This seed funding round marks a major milestone for Ayrton Energy and sets the stage for the company’s next phase of growth. By focusing on one of the most critical barriers to clean hydrogen adoption—affordable and efficient storage—Ayrton is positioning itself at the forefront of the hydrogen revolution. The startup’s technology has the potential to make hydrogen a more viable and competitive option in the clean energy mix, contributing to a cleaner, more sustainable future for the global energy industry.