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Electrolyzer company Verdagy closes $25M funding round led by TDK Ventures

Verdagy recently closed a $25-millionfunding round led by TDK Ventures. Syndicate members represent leaders in a wide range of industries focused on the use of green hydrogen and renewable energy for deep decarbonization, and include (in alphabetical order) BHP Ventures, Doral Energy Tech Ventures, Khosla Ventures, Orbia Ventures, Shell Ventures, and Temasek.

Spun out of Chemetry in early 2021 with seed investment from Khosla Ventures, Verdagy is leveraging years of electrochemical experience to develop technology that will meet the cost and performance targets necessary for broad adoption of green hydrogen across multiple industries.

Verdagy’s novel approach to large-scale water electrolysis is to incorporate the advantages of alkaline electrolysis (AWE) and proton exchange membrane electrolysis (PEM) while designing out their inherent limitations.

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Verdagy created a new membrane-based approach to electrolysis leveraging very large active area cells, with the ability to operate at industry-leading high current densities and a wide dynamic operating range.

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VWE: large cells drive capex savings


This approach enables low capital and operating costs and is expected to meet or exceed the US Department of Energy’s targets for water electrolysis.

Verdagy operates laboratory and pilot plant facilities in Moss Landing, California to further develop and rapidly scale the technology platform.

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