EVOLOH Secures $20 Million in Funding for Affordable and Efficient Hydrogen Production

EVOLOH, a Cleantech Startup, Secures $20 Million in Funding for Affordable Clean Hydrogen Technology.

EVOLOH, a promising cleantech startup, recently announced that it has raised $20 million in funding. The company plans to use the proceeds to further develop its solution for efficient and low-cost clean hydrogen production. EVOLOH, founded in 2020 and based in California, specializes in manufacturing high-performance electrolyzer stacks for hydrogen production. Their platform, Nautilus, utilizes liquid alkaline technology to minimize costs and technical risks by using common materials like steel, plastic, and aluminum instead of precious or rare earth materials.

With the new capital raised, EVOLOH is planning to expand its manufacturing technology and enhance the capabilities of its Nautilus solution. Dr. Jimmy Rojas, the founder and CEO of EVOLOH, expressed his excitement about the funding, stating that it positions the company as a leader in the electrolyzer manufacturing market. He highlighted the goal of transforming electrolyzer stacks into affordable and efficient hardware commodities using 100% local supply chains.

The funding round was led by Engine Ventures, with additional investment from NextEra Energy Resources and 3M Ventures. Katie Rae, CEO and Managing Partner at Engine Ventures, praised EVOLOH for their opportunity to commercialize better and more affordable electrolyzers, as well as introducing a faster and more sustainable manufacturing platform. She noted the impressive founding team and early partnership activities of EVOLOH, making them a valuable addition to the Engine Ventures portfolio of cleantech and advanced manufacturing companies.

EVOLOH’s mission is to accelerate the transition towards a cleaner energy future by providing cost-effective hydrogen production solutions that can be easily scaled up or down depending on demand. The company believes that its innovative technology will help reduce greenhouse gas emissions while also promoting economic growth through increased demand for clean energy products.

As part of their expansion plans, EVOLOH intends to invest in research and development initiatives aimed at improving their electrolyzer stacks’ performance and reducing their overall cost structure. This will enable them to offer competitive pricing while still maintaining high standards of quality and reliability.

The new funding round will also allow EVOLOH to establish strategic partnerships with key players in the hydrogen economy such as utilities companies

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