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In the latest development, Evoloh, a forward-thinking cleantech firm headquartered in Santa Clara, CA, has successfully secured $20 million in funding. Spearheading this investment round is Engine Ventures, with notable contributions from a subsidiary of NextEra Energy Resources and 3M Ventures.
The capital infusion is earmarked for expanding Evoloh's cutting-edge manufacturing technology, aimed at ramping up production efficiency, and integrating new functionalities into its groundbreaking NautilusTM platform. This platform, renowned for its innovation in liquid alkaline electrolyzers, is set to revolutionize clean hydrogen production on a global scale.
Established in 2020 under the leadership of CEO Dr. Jimmy Rojas, Evoloh specializes in the production of water electrolyzers. Its overarching mission is to enable cost-effective clean hydrogen generation at a gigawatt capacity, irrespective of geographical constraints.
"This round of funding positions EVOLOH to lead the electrolyzer manufacturing market by transforming electrolyzer stacks into affordable, efficient hardware commodities made with 100% local supply chains," said Dr. Jimmy Rojas, founder and CEO of EVOLOH.
At the heart of their offering are the patented NautilusTM stacks, which leverage state-of-the-art liquid alkaline technology to drive down operational costs and technical uncertainties and enhance manufacturing efficiency, durability, and overall performance. These compact stacks, capable of being configured into modules boasting a formidable 24-megawatt capacity, are ideally suited for deployment in expansive industrial settings, marking a significant leap forward in sustainable energy solutions.
Katie Rae, CEO and Managing Partner at Engine Ventures and EVOLOH Board member added, "EVOLOH has a timely and massive opportunity to commercialize better and more affordable electrolyzers and introduce a faster and more sustainable electrolyzer manufacturing platform. With an impressive founding team and early partnership activity, EVOLOH is a strong addition to Engine Ventures' portfolio of cleantech and advanced manufacturing companies."
"By using affordable, widely available materials, EVOLOH's electrolyzer stacks create an exciting opportunity to reduce the cost of green hydrogen," said Rick Clark, vice president of strategy and product solutions at NextEra Energy Resources. "When produced with low-cost renewable electricity, green hydrogen produced with EVOLOH's technology has the potential to become another innovative decarbonization solution offered by NextEra Energy Resources."
"3M is excited about our investment in EVOLOH and the potential collaboration opportunities between our companies," said Mark Copman, senior vice president, 3M New Growth Ventures. "3M has the opportunity to leverage our historical expertise in high-volume membrane electrode assembly and shares EVOLOH's vision to make clean and affordable hydrogen available around the world. 3M's investment in EVOLOH fits well with the work 3M is doing to help support the hydrogen economy and move the planet toward a clean energy transition."
Introducing EVOLOH:
Established in 2020, EVOLOH Inc. is at the forefront of transforming the landscape of water electrolyzer manufacturing. It focuses on enabling cost-effective clean hydrogen production at a gigawatt scale globally. Central to EVOLOH's mission are its NautilusTM stacks, a proprietary line of electrolyzers that harness cutting-edge liquid alkaline technology to drive down costs and mitigate technical uncertainties, all while enhancing manufacturing efficiency, longevity, and performance.
EVOLOH enjoys substantial backing from key industry players, including Engine Ventures, NextEra Energy Resources, and 3M Ventures, with additional support from Breakthrough Energy Fellows and other strategic partners.
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