EVOLOH Secures $20M to Transform Electrolyzer Manufacturing and Make Low-Carbon Hydrogen Globally Accessible [Yahoo! Finance]
NextEra Energy, Inc. (NEE)
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Source: Yahoo! Finance
SANTA CLARA, CA / ACCESSWIRE / March 26, 2024 / EVOLOH, Inc. , a cleantech company that manufactures electrolyzer stacks for hydrogen production, today announced it has raised an oversubscribed $20 million Series A round led by Engine Ventures . Additional participating investors include a subsidiary of NextEra Energy Resources and 3M Ventures . The capital will be used to expand the company's scalable, high-throughput manufacturing technology and introduce additional capabilities for its Nautilus TM platform of advanced liquid alkaline electrolyzers EVOLOH is making low-carbon hydrogen globally accessible by revolutionizing the manufacturing of electrolyzers. While incumbent electrolyzers are notoriously expensive and difficult to produce, transport and install, and rely on politically and environmentally challenging supply chains, EVOLOH's manufacturing facility will offer an 80% reduction in capital investment and footprint. "This round of funding positions EVOLOH to lead the
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NEE
Earnings
- 4/24/24 - Beat
NEE
Sec Filings
- 4/5/24 - Form 4
- 4/1/24 - Form ARS
- 4/1/24 - Form DEF
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