Verdagy Awarded $39.6 Million Grant from the Department of Energy
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Verdagy Awarded $39.6 Million Grant from the Department of Energy

For Use in the Company’s Gigawatt-Scale Advanced Silicon Valley Factory

Verdagy, a green hydrogen electrolysis company with over a decade of technology and product development, has been awarded a $39.6M grant by the Department of Energy (DOE) to accelerate the high-volume manufacturing of Advanced Alkaline Water Electrolysis (AWE) eDynamic® electrolyzers in the company’s Silicon Valley factory.

Verdagy’s grant award from the DOE is an important step in accelerating the mass adoption of green hydrogen and in growing US manufacturing. I’m proud of the entire Verdagy team’s efforts to develop and commercialize the most efficient, cost-competitive, and scalable green hydrogen solutions to serve the broadest set of industries. This DOE grant will accelerate our path to high volume manufacturing and faster customer adoption.”

Marty Neese, CEO, Verdagy

Marty Neese

CEO, Verdagy

Verdagy’s gigawatt-scale Silicon Valley factory was announced in 2023 and will be the first to manufacture advanced alkaline water electrolyzers in large volumes in the United States. Verdagy will commence shipments from the Newark, CA manufacturing facility in 2025 to enable infrastructure-scale green hydrogen deployments.

Verdagy is ramping up commercial deployments and accelerating the adoption of green hydrogen. Verdagy’s electrolyzers provide the lowest levelized cost of hydrogen (LCOH) by combining high current densities, the widest dynamic range in the industry, and fast response to enable real-time matching with renewable power sources. The company is committed to achieving the Department of Energy’s goal of $2/kg of levelized cost targets for green hydrogen by 2026. For more information, the DOE’s announcement is here.

About Verdagy

Verdagy is innovating advanced electrolysis technology for the large-scale production of green hydrogen. Its industry-leading solution reduces both upfront capital costs and ongoing operating expenses, to achieve the industry’s lowest levelized cost of hydrogen. In addition to its Silicon Valley factory, Verdagy operates its R&D and highly automated commercial pilot plants in Moss Landing, California where it continues to advance its cutting-edge technology.

“ Yara is taking the lead on driving the use of electrolyzers in the ammonia and fertilizer industry. We see a strong need for cost competitive, clean hydrogen to be able to decarbonize and drive the movement towards a more environmentally friendly industry. Electrolysers is a technology requiring a lot of innovation and product development. We are really impressed by how Verdagy is taking on this challenge and want to take part in this adventure. The world needs them.”

Stian Nygaard

Investment Director in Yara Growth Ventures
“ Verdagy is rising to the challenge to accelerate the green hydrogen economy and decarbonize hard-to-abate sectors such as steel and ammonia production. The management team has a successful track record in scaling climate technologies from megawatts to gigawatts and they are committed to achieving the same at Verdagy.”

Vikas Gupta

Partner at Shell Ventures
“ Verdagy’s potential to demonstrate high-current density over a wide dynamic range across large-area cells led us to incubate and write the first check into the company in early 2020. Since then, the team has made significant progress in validating key performance and cost targets, getting them closer to building out a green hydrogen economy.”

Rajesh Swaminathan

Partner, Khosla Ventures
“ We are more than doubling down in this round on Verdagy, we are witnessing how they have gone from a valuable technology to a defensible business.”

Anil Achyuta

Managing Director at TDK Ventures
“ We are focused on building an entire renewable hydrogen ecosystem in California to achieve our climate goals - including the crucial step of manufacturing electrolyzers. Verdagy’s decision to expand their footprint here reflects California’s unique strength in creating new markets, enabling the creation of clean energy jobs while solving our most existential challenges with the technology of the future.”

Dee Dee Myers

Senior Advisor to Governor Newsom and Director of the Governor’s Office of Business and Economic Development
“ Yara is taking the lead on driving the use of electrolyzers in the ammonia and fertilizer industry. We see a strong need for cost competitive, clean hydrogen to be able to decarbonize and drive the movement towards a more environmentally friendly industry. Electrolysers is a technology requiring a lot of innovation and product development. We are really impressed by how Verdagy is taking on this challenge and want to take part in this adventure. The world needs them.”

Stian Nygaard

Investment Director in Yara Growth Ventures
“ Verdagy is rising to the challenge to accelerate the green hydrogen economy and decarbonize hard-to-abate sectors such as steel and ammonia production. The management team has a successful track record in scaling climate technologies from megawatts to gigawatts and they are committed to achieving the same at Verdagy.”

Vikas Gupta

Partner at Shell Ventures
“ Verdagy’s potential to demonstrate high-current density over a wide dynamic range across large-area cells led us to incubate and write the first check into the company in early 2020. Since then, the team has made significant progress in validating key performance and cost targets, getting them closer to building out a green hydrogen economy.”

Rajesh Swaminathan

Partner, Khosla Ventures
“ We are more than doubling down in this round on Verdagy, we are witnessing how they have gone from a valuable technology to a defensible business.”

Anil Achyuta

Managing Director at TDK Ventures
“ We are focused on building an entire renewable hydrogen ecosystem in California to achieve our climate goals - including the crucial step of manufacturing electrolyzers. Verdagy’s decision to expand their footprint here reflects California’s unique strength in creating new markets, enabling the creation of clean energy jobs while solving our most existential challenges with the technology of the future.”

Dee Dee Myers

Senior Advisor to Governor Newsom and Director of the Governor’s Office of Business and Economic Development
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