David R Baker of Bloomberg reports that a green hydrogen maker has raised $73 million.
- Verdagy is a California-based startup that creates industrial-sized electrolyzers to produce green hydrogen.
- These electrolyzers consume 20 megawatts of energy, the equivalent of 15,000 homes, and will be sold to companies in hard to decarbonize industries.
- Verdagy will open a 10,000 square foot factory in Silicon Valley in the first quarter of 2024.
“Electrolyzers split hydrogen from water, yielding a fuel that can be produced and used without spewing greenhouse gases into the air. Although hydrogen is seen as a potential fuel for everything from city buses to data centers, most of it sold today goes to oil refineries and fertilizer plants, and it’s stripped from natural gas in a process that gives off carbon dioxide.”
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