Verdagy develops Advanced Alkaline Water Electrolysis (AWE) eDynamic® electrolyzers designed for large-scale green hydrogen production. Its technology targets low levelized cost of hydrogen (LCOH) through high current densities, the widest dynamic range in the industry, and fast response to match renewable power. The company announced a gigawatt-scale Silicon Valley factory in 2023 and operates R&D and highly automated commercial pilot plants in Moss Landing, California. Verdagy plans to commence shipments from its Newark, CA manufacturing facility in 2025 to enable infrastructure-scale deployments. To accelerate high-volume manufacturing, Verdagy has been awarded a $39.6 million grant from the U.S. Department of Energy (pending negotiations). The company is ramping up commercial deployments and is committed to helping meet the DOE's $2/kg LCOH target by 2026. Verdagy develops scaling electrolyzer technologies for industrial markets, headquartered in Moss Landing, CA. Its core product is the eDynamic® family; the company is accelerating launch and commercialization of the eDynamic 20 megawatt (MW) electrolyzer module. The 20MW module is intended to serve as a fundamental unit for future systems at the 200MW scale and beyond. Verdagy will expand deployments after initial commercial unit deployments with existing partners to customers in heavy industries such as oil and gas, ammonia, steel and e‑fuels to support industrial decarbonization. The company’s leadership includes CEO Marty Neese (SunPower, Ballard), COO Peter Cousins (scaled Tesla gigafactories) and founder Dr. Ryan Gilliam (founder of Fortera and Chemetry). Verdagy has created a membrane-based electrolysis technology that blends advantages of alkaline water electrolysis (AWE) and proton-exchange membrane (PEM) approaches, using very large active-area cells that can operate at high current densities and wide dynamic ranges. The company’s single-element architecture focuses on proprietary interior cell design—heat dissipation, gas/liquid circulation and flow management—which Verdagy says is difficult to replicate. Its cells enable both efficient operation in a max-efficiency range and the ability to absorb excess renewable electricity to produce large amounts of hydrogen for storage or use. Verdagy is targeting industrial hydrogen applications—on-site or near-site supply for oil refining, fertilizer production, food processing and metal-alloy production—where it says a smaller footprint and lower lifecycle emissions are beneficial. The technology is patent-pending and the company emphasizes industrial-scale deployment tied to renewable power sources like wind and solar. Financially, Verdagy completed an over-subscribed $25 million strategic investor round to support its development and commercialization efforts.

Total raised

$138M

Funding rounds

3

Latest round

Grant

Latest activity

Mar 2024