19 Sep 2023
Verdagy, a pioneer in advanced water electrolysis electrolyzer technologies for large-scale industrial applications, announced its new facility opening in Newark, California, with more than 100,000 sq. ft. of advanced manufacturing space. Verdagy's Silicon Valley factory will be the first to manufacture advanced water electrolyzers in large volumes in the United States. The commencement of operations at Verdagy's highly-automated manufacturing facility will start in Q1 2024. Verdagy expects to double the total number of its employees by next summer to support its expansion and the operation of this new, state-of-the-art facility.
Verdagy's strategic focus on optimizing manufacturing is a key factor in becoming a leader in the scaling of the green hydrogen industry. Through development of advanced manufacturing, cost reductions, and significant product innovations, Verdagy is deploying a scalable manufacturing design that puts the company on track to achieve the Department of Energy's goal of $2/kg of levelized cost of hydrogen by 2026.
Verdagy's customers are in heavy industries such as chemicals, ammonia/fertilizer, steel, and e-fuels which all require large amounts of green hydrogen. "Our new Silicon Valley manufacturing facility will accelerate the production and cost reduction of our eDynamic® 20 megawatt electrolyzer module, which is the basic building block for delivering larger, gigawatt-scale plants," said Marty Neese, Verdagy CEO.
The decision to expand Verdagy's manufacturing capabilities in California comes at a time when the state is prioritizing the development of its hydrogen economy and becoming a federally funded hydrogen hub, as outlined in Governor Newsom's Hydrogen Market Development Strategy.
"We are focused on building an entire renewable hydrogen ecosystem in California to achieve our climate goals - including the crucial step of manufacturing electrolyzers," said Dee Dee Myers, Senior Advisor to Governor Newsom and Director of the Governor's Office of Business and Economic Development. "Verdagy's decision to expand their footprint here reflects California's unique strength in creating new markets, enabling the creation of clean energy jobs while solving our most existential challenges with the technology of the future."
Last month, Verdagy closed a $73-million Series B funding round, co-led by Temasek and Shell Ventures. The new funding enables Verdagy to accelerate the launch and commercialization of its eDynamic 20 megawatt electrolyzer module, which will serve as a fundamental unit to future systems at the 200 megawatt scale and beyond.
The company's goal is to design a factory that will serve as the basis for even larger scale production facilities that will be developed in other locations to support Verdagy's rapid expansion. The company's existing Moss Landing, CA location will remain focused on advanced research and development, and commercial pilot-plant operations to support Verdagy's customer needs in the future and continue to deliver technology that produces green hydrogen at the industry's lowest cost.
Verdagy | www.verdagy.com