Temasek Leads Investment Round in Verdagy
Posted on 08/11/2023
Moss Landing, California-based Verdagy works in scaling electrolyzer technologies for industrial markets. Verdagy announced the closing of a US$ 73 million Series B funding round. Temasek Holdings and Shell Ventures co-led the Series B round, with participation from new global investors Bidra Innovation Ventures, BlueScope, Galp, Samsung Venture Investment, Toppan Ventures, Tupras Ventures, Yara Growth Ventures, and Zeon Ventures. The new funding will enable Verdagy to accelerate the launch and commercialization of its eDynamic 20 megawatt (MW) electrolyzer module. Following initial commercial unit deployments with existing partners, Verdagy will expand deployment of its novel eDynamic electrolyzer technology to additional customers in heavy industries such as oil and gas, ammonia, steel and e-fuels to support global industrial decarbonization.
Green hydrogen is defined as splitting water using renewable energy, like solar and wind.
