Moss Landing California US based Verdagy has announced the closing of a USD 25 million funding round led by TDK Ventures. Syndicate members represent leaders in a wide range of industries focused on the use of green hydrogen and renewable energy for deep decarbonization, and include BHP Ventures, Doral Energy Tech Ventures, Khosla Ventures, Orbia Ventures, Shell Ventures, and Temasek. Spun out of Chemetry in early 2021 with seed investment from Khosla Ventures, Verdagy is leveraging years of electrochemical experience to develop technology that will meet the cost and performance targets necessary for broad adoption of green hydrogen across multiple industries. This round of funding will enable Verdagy to continue its scale-up activities and further demonstrate world-class electrolyzer technologyVerdagy's novel approach to large scale water electrolysis is to incorporate the advantages of alkaline electrolysis and proton exchange membrane electrolysis while designing out their inherent limitations. Verdagy created a new membrane-based approach to electrolysis leveraging very large active area cells, with the ability to operate at industry-leading high current densities and a wide dynamic operating range. This approach enables low capital and operating costs and is expected to meet or exceed the US Department of Energy's targets for water electrolysis.Verdagy is innovating water electrolysis technology for the large-scale production of green hydrogen. Verdagy's industry leading solution achieves both the lowest upfront capital costs and the lowest unit economics for production. Verdagy operates laboratory and pilot plant facilities in Moss Landing, California to further develop and rapidly scale the technology platform.