Tüpraş Ventures Expands with Green Hydrogen Investments Abroad

Türpetrol's venture capital company Türpetrol Ventures has made investments in Verdagy, a US-California-based company, and Ionomr, a Canada-Vancouver-based company, both operating in the green hydrogen sector.

Türpetrol Deputy General Manager Levent Zağra:

 “In line with our Strategic Transformation Plan, we are focusing on low-carbon and renewable energy sources. We believe that innovative technologies used in green hydrogen production will make green hydrogen more economically efficient. In this context, following our investment in Verdagy, which develops high-capacity hydrogen production technology, we are pleased to become an investor in Ionomr, which develops special materials used in hydrogen production systems” he said. 

Within the scope of its Strategic Transformation Plan, Türpetrol continues its investments in focus areas through Türpetrol Ventures, a company established to invest in technology startups that will be decisive in energy transformation, create strategic partnerships, and develop the ecosystem, as it advances toward producing the energy of the future and becoming a carbon-neutral energy company by 2050.

Türpetrol's venture capital company Türpetrol Ventures continues to invest in successful startups operating in the green hydrogen sector. Following the completion of the Verdagy investment in the previous year, Türpetrol Ventures also made an investment in Ionomr this year.

Advanced Technologies for Green Hydrogen Production

In green hydrogen production, water is separated via electrolyser using electricity produced from renewable sources. Thus, hydrogen is obtained in a way that does not result in carbon emissions.

Verdagy, operating in the field of electrolyser technology, stands out by achieving the highest current density in its field and offering patented cell and membrane architectures. After laboratory and pilot phases, the company achieved rapid scaling with its 2 MW electrolyser facility and is preparing to bring 20 MW capacity modules to market.

One of the most important components of electrolysers that produce green hydrogen is the membranes they use. Ionomr, a developer of long-lasting, innovative membrane and polymer technologies, develops products for both the electrolyser and fuel cell sectors. These recyclable products increase system efficiency with their high ionic conductivity and stability and durability under demanding conditions.

“Through our investments in the new business areas of the future, we aim to be an early adopter of the most efficient and innovative technologies”

Levent Zağra, Türpetrol Deputy General Manager responsible for innovation: “As Türpetrol, we focused on carbon-free energy technologies in line with our Strategic Transformation Plan, which we announced approximately three years ago. In addition to sustainable refining, we continue our operations and investments in biofuels, zero-carbon electricity, and green hydrogen, which are our focus areas. Through our venture company Türpetrol Ventures, we are investing in the new business areas of the future. Different hydrogen electrolysers and hydrogen produced using zero-carbon electricity will be one of the important tools in reaching our carbon-neutral targets. As demonstrated by the Verdagy investment we made last year and our Ionomr investment this year, we aim to be an early adopter of the most efficient and innovative technologies. We have been monitoring all hydrogen-sector startups worldwide for a very long time. We believe that innovative electrolyser architectures used in green hydrogen production can rapidly scale and have the potential to be successfully used in our operations. In this field, we are very pleased to be an investor in the Verdagy and Ionomr startups and to be among the international investors participating in the investment round” he said.