TLDR:
- Trucks Venture Capital, Collaborative Fund, Amazon Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, Newlab, and other strategic investors back Verne’s cryo-compressed hydrogen storage technology.
- The new funding will help Verne accelerate the development of their cryo-compressed hydrogen (CcH2) technology for on-board hydrogen storage for heavy-duty vehicles.
Trucks Venture Capital, Collaborative Fund, Amazon Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, Newlab, and other strategic investors have invested in Verne’s cryo-compressed hydrogen storage technology. Verne, a leading developer of high-density hydrogen storage systems, aims to address the challenge of transitioning heavy-duty vehicles to zero-emission technologies in order to reduce greenhouse gas emissions. The funding will allow Verne to further develop their CcH2 technology, which offers advantages over current battery electric trucks in terms of range, weight, and refueling time.
Heavy-duty transportation accounts for a significant portion of U.S. greenhouse gas emissions, making it crucial to find sustainable solutions. Verne’s cryo-compressed hydrogen technology involves cooling and compressing hydrogen to achieve high hydrogen density, enabling semi-trucks to achieve diesel-equivalent range without adding weight to the system. This technology has the potential to revolutionize the transition to zero-emission fleets and reduce the environmental impact of large vehicles.
Investors such as Trucks Venture Capital and Amazon’s Climate Pledge Fund see promise in cryo-compressed hydrogen as a storage solution. With Verne’s innovative technology, the goal is to provide zero-emission solutions for heavy-duty vehicles without sacrificing performance. The successful fundraising will help Verne accelerate their path to market and contribute to decarbonizing the critical industry of heavy-duty transportation.
