Startup Verdagy Inc. has raised $73 million in series B funding to make industrial-sized electrolyzers, company reported.
Verdagy has designed a large-scale version of the machine aimed at industrial customers. Its advanced alkaline electrolyzer — consuming 20 megawatts of electricity. The funding comes as Verdagy prepares to open a 100,000 square-foot factory in Silicon Valley in the first quarter of next year. Temasek and Shell Ventures led the financing round.
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