California Green Hydrogen Machine Maker Raises $73 Million

Verdagy’s large-scale electrolyzers strip hydrogen from water
Company is preparing to open a factory in Silicon Valley

An electrolyzer in Verdagy’s pilot plant in Moss Landing, California. The electrolyzer’s cells are contained in the blue structure at top, while the cylindrical tanks hold electrolyte.Source: Verdagy

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By David R Baker

August 8, 2023 at 12:00 PM UTC

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Startup Verdagy Inc. has raised $73 million in series B funding to make industrial-sized electrolyzers, the machines at the heart of a future green hydrogen economy.

Verdagy has designed a large-scale version of the machine aimed at industrial customers. Its advanced alkaline electrolyzer — consuming 20 megawatts of electricity, or as much as 15,000 homes — will help cut the costs of green hydrogen and make it easier for companies currently using gas-based hydrogen to switch.