Aternium Celebrates Two-year Anniversary With $1M State Investment

Aternium’s facility, where the company is advancing clean hydrogen production efforts. (Photo courtesy Blue Blaze Associates LLC)

WILMINGTON — Aternium marked its two-year anniversary on Thursday, September 25, with the announcement of a $1 million investment from the State of Delaware to support the company’s next phase of engineering toward producing industrial clean hydrogen.

Nearly 100 community leaders attended the event, where Lt. Governor Kyle Evans Gay and Delaware Division of Small Business (DSB) Director CJ Bell presented a ceremonial check to Aternium founder Dr. Andrew Cottone.

The state’s $1 million investment comes from the Delaware Accelerator & Seed Capital Program (DASCP), one of four initiatives funded through the U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI). Delaware is administering $60.9 million in SSBCI funds to expand access to capital for start-up and early-stage businesses.

Governor Matt Meyer praised Aternium’s work as an example of the innovation shaping Delaware’s future.

“Aternium’s work represents the kind of forward-thinking innovation that will shape a healthier and more sustainable future for all of us,” Meyer said. “By investing in clean hydrogen, we’re not only supporting a Delaware company with incredible potential, but we’re also taking real steps to reduce carbon emissions and protect the environment for generations to come.”

DSB Director CJ Bell emphasized the broader economic impact.

“We are continuing to make significant investments in high-impact, high-growth companies to position Delaware as the Mid-Atlantic hub for innovation,” Bell said. “Supporting companies like Aternium is good for our state’s economy and our environment.”

Cottone said the funding validates Aternium’s mission and accelerates its progress.

“We are grateful to the State of Delaware for this critical funding, which underscores the state’s commitment to innovation and clean energy,” he said. “This support accelerates our efforts to sustainably scale clean hydrogen production, strengthen our partnerships, and bring lasting economic and environmental benefits to Delaware.”

The anniversary event gathered strategic partners, elected officials, stakeholders, and members of the media to recognize Aternium’s achievements.

Since its founding in 2023, the company has laid the groundwork for a network of high-efficiency clean hydrogen production facilities across Delaware and the Mid-Atlantic. Its model integrates artificial intelligence and machine learning with chemical manufacturing expertise to improve safety, cut carbon emissions, and advance a sustainable future.