TLDR:
Verne, a hydrogen storage company, raised $15.5 million in funding to accelerate the development of its high-density hydrogen storage systems for heavy-duty vehicles. This technology aims to provide range, weight, and refueling advantages over current zero-emission technologies.
Verne recently secured a strategic fundraising round led by Trucks Venture Capital, with participation from Collaborative Fund, Amazon’s Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, and Newlab
Verne is dedicated to developing cryo-compressed hydrogen technology to allow heavy-duty vehicles to achieve diesel-equivalent range and payload, addressing the energy requirements and total cost of ownership challenges associated with transitioning to zero-emission vehicles. The company’s technology enables semi-trucks to achieve over 900 miles in range without adding weight to the system.
Key investors and partners believe that Verne’s high-density hydrogen solution can play a significant role in decarbonizing heavy-duty transportation and provide economic and operational advantages for fleets transitioning to zero-emission technologies.
Full Article:
Verne, a leading developer of high-density hydrogen storage systems, has raised a total of $15.5 million in funding to accelerate the development of its cryo-compressed hydrogen (CcH2) technology for onboard hydrogen storage in heavy-duty vehicles.
The strategic fundraising round was led by Trucks Venture Capital, with participation from existing investors Collaborative Fund and Amazon’s Climate Pledge Fund, as well as new investors United Airlines Ventures Sustainable Flight Fund and Newlab.
Verne’s technology aims to address the challenges associated with transitioning from diesel to zero-emission technologies in heavy-duty transportation. Current zero-emission technologies like Class 8 Battery Electric trucks have performance trade-offs, such as limited range, increased weight, and longer refueling times.
Hydrogen is seen as the best solution for decarbonizing vehicles that need to travel long distances or carry heavy payloads, as it provides advantages over battery electric trucks in terms of range, weight, and refueling. Verne’s cryo-compressed hydrogen technology involves cooling and compressing hydrogen to achieve high hydrogen density, enabling heavy-duty vehicles to achieve diesel-equivalent range and payload.
Verne has received significant commercial interest from key trucking fleets, original equipment manufacturers (OEMs), and partners in aviation, ports, mining, and hydrogen distribution and refueling. The company’s technology has been validated through on-vehicle testing, confirming improved hydrogen density relative to traditional storage methods.
Key quotes from investors highlight the potential of Verne’s high-density hydrogen technology in providing economic and operational advantages for transitioning to zero-emission fleets. With the support of strategic investors and partnerships, Verne aims to accelerate its path to market and contribute to the decarbonization of heavy
