Verdagy, a company manufacturing innovative hydrogen electrolyzers, has received a USD 39.6 million grant from the US Department of Energy (DOE).
The company intends to use the funds to increase the manufacturing capacity of advanced alkaline water electrolysis (AWE) eDynamic electrolyzers at its Silicon Valley factory.
Verdagy’s 10,000 sq ft factory will be the first in the US to manufacture advanced alkaline water electrolyzers. The company plans to begin deliveries from its Newark manufacturing facility in 2025.
Analyst QuickTake : In August 2023 , Verdagy raised USD 73 million in a Series B funding round led by Tamasek and Shell Ventures to manufacture its industry-sized electrolyzers.
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