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Getting climate, energy & environment news right.

California Green Hydrogen Machine Maker Raises $73 Million

David R Baker of Bloomberg reports that a green hydrogen maker has raised $73 million.

The C3 Take
  • 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.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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