TLDR:
- Cleantech startup EVOLOH raised $20 million to advance low-cost clean hydrogen production.
- The company’s Nautilus platform uses liquid alkaline technology to minimize costs and technical risks.
Cleantech startup EVOLOH recently secured $20 million in funding to further develop its innovative solution for efficient and cost-effective clean hydrogen production. The California-based company, founded in 2020, specializes in manufacturing high-performance electrolyzer stacks, utilizing their Nautilus platform which incorporates liquid alkaline technology. This approach aims to reduce costs and technical risks by utilizing readily available materials like steel, plastic, and aluminum instead of precious metals or rare earth materials. EVOLOH’s manufacturing facility is projected to offer an impressive 80% reduction in capital investment and footprint, showcasing their commitment to sustainability and affordability in the hydrogen production sector.
Dr. Jimmy Rojas, the founder and CEO of EVOLOH, expressed his excitement about the new round of funding, stating that it positions the company as a leader in electrolyzer manufacturing. The funding was led by Engine Ventures, with participation from investors such as NextEra Energy Resources and 3M Ventures. Engine Ventures’ CEO, Katie Rae, highlighted EVOLOH’s potential to revolutionize electrolyzer manufacturing, emphasizing the company’s strong founding team and strategic partnerships.
Overall, EVOLOH’s latest funding round underscores the growing importance of clean hydrogen technology in the transition towards sustainable and eco-friendly energy solutions. By focusing on affordability, efficiency, and local supply chains, the company is poised to make significant advancements in the cleantech industry.
